About Property Assessments

The Olmsted County Assessor's office determines the value of 76,000 parcels in the county.

Estimating Values

• Minnesota state law requires that assessors view each parcel of real estate at least once every five years to appraise its market value.
• In addition to market changes, numerous physical changes affect the value of land and buildings. This requires a physical inspection of all property subject to assessment.
• Market values are determined every January 2.

Classifying Property

The Assessor’s Office also determines the classification, or use, of each parcel. For instance, the property may be:

• Residential homestead (owner-occupied),
• Residential non-homestead
• Agricultural
• Commercial/Industrial

Each classification is taxed at a different percentage of market value.

Appraiser Credentials

Appraisers employed by the Olmsted County Assessor’s Office are professionals, with stringent training and experience requirements set by the Minnesota State Board of Assessors, who governs and administers licensure of appraisers.

Olmsted County insists on additional training in the areas of management, organization, and customer service.