Glossary

Abatement

A 'tax abatement' is a formal, written request, made to the County Assessor on a form prescribed by the Minnesota Department of Revenue, to change the market value or classification on a specific property or properties.

Deed

A deed is a legal form showing ownership to a property. The most common deeds are the warranty, quit-claim and contract-for-deed.

Estimated Market Value

The value your property is assessed at. It is the value the assessor feels your property would be able to sell for in the current market. Minnesota state law does require assessors to be at 100% of market value.

Green Acres

This applies to agricultural property that is dealing with rising values due to development pressures not related to agricultural value of land. The assessor arrives at this value by comparing the agricultural land to other agricultural land that is selling in the area where it doesn't have developmental pressure.

Homestead Penalty

The county auditor must send a notice to the owners with the duplicate homestead demanding reimbursement of the homestead benefits plus a penalty equal to 100% of the homestead benefits. The property owner has the right to appeal this notice by filing a notice of appeal with the Minnesota tax court within 60 days of the date on the notice. If the amount is not paid within the 60 days and no notice of appeal has been filed, the county auditor shall collect the amount demanded on the next year's property taxes. If the property is a manufactured home, the amount owed should be added onto the current year's tax list for collection.

Qualifying Residential Relative

A qualifying relative means a parent, stepparent, child, stepchild, grandparent, grandchild, brother, sister, uncle, aunt, nephew, or niece. This relationship may be by blood or marriage.