Property valuation notices on the way
Bloomington property owners can expect to see estimated market value notices from the City via the U.S. Postal Service in mid-March.
Overall, residential value increased 7%, while some individual property values saw an increase of 15 – 25% or more. On the whole, commercial property values have declined about 5% with most properties in the hospitality industry seeing much larger decreases. Apartment values decreased 2 to 2.5%, depending on the sector. Overall, industrial values increased approximately 3%.
“The Assessing Division encourages property owners to review their 2021 valuations,” Residential Appraisal Manager Jennifer Blumers said.
If you would like to appeal your value, you need to show clear and convincing evidence that your 2021 valuation is incorrect, including private appraisals or comparable property sales search from the Hennepin County website. If you have questions about appealing your value after collecting supporting documentation, contact the Assessing Division at 952-563-8722. Visit blm.mn/propertyinfo or call 952-563-8722 for more information regarding process and deadlines. By the time you receive your proposed tax statement in November 2021 or property tax statement in March of 2022, you will no longer be able to appeal your 2021 value.
County property tax statements
Hennepin County will begin mailing property tax statements for 2021 in early March. Visit blm.mn/state-tax to find out if you are eligible for a Minnesota property tax refund.