Where Minneapolis home valuations are rising most
Minneapolis property taxpayers recently found out how much their assessments increased in 2023 — or in a few cases, how much they fell.
Driving the news: The city assessor's office sent out valuations to all 131,000 property owners in March.
Zoom in: Valuations are rising most in some North Minneapolis neighborhoods as well as along the eastern edge of the city, from Prospect Park down to Hiawatha, according to a presentation to City Council last week.
The other side: Home valuations in some downtown neighborhoods actually decreased. Loring Park was down 7%, according to the presentation.
The big picture: More than 75% of homeowners saw their valuations increase.
- 33% saw a 0% to 5% increase.
- 31% saw an increase of 5% to 10%.
- 10.3% saw a jump of 10% to 15%.
- 2% went up by my more than 15%.
Why it matters: Your assessment plays a big role in determining how much you will pay in property taxes next year.
What to know: If you feel your valuation is wrong, the city suggests calling your assessor, who is listed on the back of your notice.
- To request a review if your valuation, click here.
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