Minnesota commercial property values have been depressed in recent years but assessments have been far too slow to reflect this change. Robert Hill and his team understand the frustration that property owners feel when they get a tax bill based on what their properties used to be worth.
Filing a Minnesota Property Tax Appeal
If you believe that your property valuation is inflated, you have the right to file an administrative appeal. Property tax appeals are made before local tax authorities to contest a property assessment and request a change in the assessment to fair market value.
Pay attention to the deadline for filing an appeal
Property owners in Minnesota have more than a year of opportunity to appeal their property value assessments. This is because Minnesota’s tax laws dictate that property taxes are paid in arrears.
The assessor establishes your property value each year on January 2, but you do not pay the taxes based on that assessment until May 15 and October 15 of the following year. The deadline to appeal with the Minnesota Tax Court is April 30th of the year the taxes are due.
What to do while your appeal is pending
Substantial backlogs are common for Twin Cities assessors’ offices and courts. Property owners can expect property tax appeals to take a year or more. While your appeal is pending, you must continue to pay your property taxes when they are due. However, if and when you are awarded a property valuation reduction, you will receive a refund of the overpaid taxes with interest.