Crow Wing County property value assessment increases $890 million

Total property value in Crow Wing County increased and exceeded figures from before 2009, the year the Great Recession officially ended, according to county officials.

According to property assessment data released by the county land services department, the total assessed value of all properties in the county increased from $12.1 billion as of Jan. 2, 2020, to $13 billion on Jan. 2, 2021, an increase of $890 million or 7%.

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In 2008, the estimated market value of properties in the county was a little over $12 billion. This is the first time that the county’s total estimated market value has far exceeded $12 billion, which had been the previous high in 2008 prior to the Great Recession’s negative impact on the housing market.

While total property value in the county has increased, this does not mean every property has seen an increase in its assessed values, explained Gary Griffin, land services supervisor for property valuation and classification, in a news release.

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“Each property value is established based on actual sales which occurred in the marketplace,” noted Griffin. “If comparable properties in a neighborhood during the study period sold for more, valuations will be higher; if comparable nearby properties sold for less, valuations go down.”

State rules govern how properties are classified and valued, based on physical characteristics, use of the property and sales of comparable properties during a prescribed period. Only “arms-length” transactions may be used for comparable sales, which precludes the use of foreclosure sales in determining values.

In addition, Minnesota law requires assessed values to fall within a statistical range of 90% to 105% of market value. If the assessment is outside this range, the state requires property values to be raised or lowered accordingly.

Griffin also pointed out higher or lower assessed values do not necessarily mean higher or lower taxes.

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“Government spending, at the county, city, township, and school district levels drives what taxes are due and payable on a property,” he stated.

Taxpayers with questions about their tax statements or valuation notices may visit the county’s website at www.crowwing.us , contact the office at 218-824-1010 or email landservices@crowwing.us .

The land services office is located in Brainerd on the main floor of the Land Services Building, 322 Laurel St.