Property owners can anticipate the Assessor’s Office to be knocking on their door to complete a required property review. The map below shows the developments in quintile review for this year.
Under Minnesota Statute 273.08, the appraiser is required to physically review each property at least once every five years (this is known as a quintile).
Gather information
The appraiser gathers information on all characteristics of the property that affect market value, including but not limited to size, location, age, condition, quality of construction, and other features.
Analyze sales and determine value
Each year the assessor analyzes actual sales of properties in each community. Sales in a 12-month time period (October 1 to September 30 of the previous year) are reviewed and verified. These sales are used as a guide to help determine what similar properties would likely sell for if they were placed on the open market. Department of Revenue guidelines require that the overall level of assessment be between 90-105 percent of sale price.
For more information, visit the Wright County website.
The map below shows the developments in quintile review for this year.
