HOW PROPERTY TAXES ARE CALCULATED
In the fall, the country assessor establishes Estimated Market Value for residential properties, based on sale data of the prior year.
Estimated Market Value is adjusted for homestead and other credits to determine a taxable market value of a residential property.
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HENNEPIN COUNTY PROPERTY TAX FACT SHEET #1
HENNEPIN COUNTY PROPERTY TAX FACT SHEET #2
House Research Property Tax 101: Basic Concepts