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 17%, with some individual property values seeing an increase of 25 – 35% or more. On the whole, commercial property values have increased about 8%, with most properties in the hospitality industry seeing larger increases. Apartment values overall have increased about 13%, depending on the sector. Overall, industrial values increased approximately 18%.
“The Assessing Division encourages property owners to review their 2022 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 2022 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 2022 or property tax statement in March of 2023, you will no longer be able to appeal your 2022 value. Hennepin County will begin to mail county property tax statements for 2022 in early March. Visit blm.mn/state-tax to find out if you are eligible for a Minnesota property tax refund.