The Assessor’s office is a division of the Finance department that is responsible for establishing the estimated market value and classification of over 20,000 parcels for property tax purposes. The market values must be in compliance with standards established by the Minnesota Department of Revenue and Minnesota Statutes and should represent the most probable selling price of the property as of the assessment date.
The Assessing department:
- Maintains a database of current property characteristics for all residential, apartment, commercial, industrial, and exempt parcels in the City of Minnetonka
- Determines the homestead/non-homestead classification for all residential properties
- Sends notifications of market value changes to each property owner
- Prepares an annual Assessment Report (PDF)
- Conducts a public meeting for the Local Board of Review/Appeals Process
- Establishes a limited or taxable value based on Legislative Statutes