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Lashae, Home Seller in Minneapolis, MN

Property Taxes: We purchased a home and are looking to get our property taxes reduced to closer to the sale

Asked by Lashae, Minneapolis, MN Mon Aug 18, 2008

price. The county assessor says that she'll change the value for taxes payable in 2010 but not 2009 (because deadlines have past). Of course, we didn't buy the house until after these deadlines. I'm told that I could go to MN Tax Court but understanding the process is very difficult and it seems the people working there will not assist. Has anyone gone through this process before and have advice?

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Lashae’s answer
Thanks! The savings would be at least $1,000 if not more. The current value is $160,000 more than we paid for the home. The county assessor agrees it's over valued which is why she's lowering the rate in 2010, which gives me more leverage because how can you say it's lower in 2010 and not 2009? Besides that all the neighbors had their values lowered just through the yearly process (but they lived there and I'm just a newbie). However, I am scared the process will be lengthy and exhaustive and quite confusing, so that's why I'm looking for assistance. Thanks!
0 votes Thank Flag Link Mon Aug 18, 2008
Actuallly looking at this it could be more than $1000 dollars in savings, depending on how much lower you can get the assessment. I haven't heard of anyone taking the time to do it though.
0 votes Thank Flag Link Mon Aug 18, 2008
Lashae,

I have not been to MN tax court, but I do have the same impression that others have given you on the matter. From a practical standpoint I would encourage you to consider the time and effort you will need to put and the potential return that you would garner from those efforts. Even if you are successful, you stand to only recoup a couple hundred dollars from the time spent. Given that my recommendation is to wait for the process to come about next year and let it be what it is. You may see a proper reduction without any work what-so-ever.

From a purely emotional standpoint I can understand and agree 100% that it is wrong for you to pay more taxes than the home is worth.

Camerom Piper
Web Reference: http://www.campiper.com
0 votes Thank Flag Link Mon Aug 18, 2008
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