We turn first to the sales approach. Sales Comparison Approach. The sales comparison approach presumes an informed buyer would not pay more for a property than it would cost to purchase a similar property with comparable utility. A comparative analysis usually begins by identifying the sale and then the elements of comparison that affect property values in the subject market.
Here, Petitioner did not provide a written appraisal. Rather, Petitioner testified about his purchase of the Subject Property one year after the assessment date. Respondent presented a written appraisal and testimony from Darcy Morescki. Petitioner argues that his testimony regarding the value of the Subject Property should be accepted by the Court as the most reliable indicator of market value and we should rely only on that testimony.
Further, Petitioner argues that the sale price of the Subject Property should be accepted as equaling the market value pursuant to Minn. In reply, Respondent argues that market value does not include the price obtained at a forced sale or an auction if it is not an arm's length transaction. Also, while Petitioner had business and financial experience and some occupational experience in the construction field, he is not a licensed assessor, appraiser, or real estate agent.
First, an owner of property is competent to testify about his or her opinion of value for his or her own property. Second, regarding the sale price, Petitioner argues that the Court should accept this sale price as equal to the market value as of the assessment date and should not consider Ms. We do give it great weight where the transaction was arm's length between informed and knowledgeable parties under no particular duress or compulsion and no other factors showing that the sale was above or below the market for example a foreclosures sale. The sale price was reduced four times and it was taken off the market for a period of time, even though it was empty.
Also, the length of time on the market was extremely long; most properties of this type sell within three to six months from the listing date. Petitioner argues that these raise the question of whether the sale was below market. Petitioner argues that because the conditions affecting the sale price were also occurring on the assessment date, they should not be considered. We disagree. Because of the question as to whether the recent sale was at market, it is appropriate to look beyond the sale price of the Subject Property to appraisals by experts to confirm or adjust the fair market value.
Morescki performed a sales approach analysis using seven comparables. The sale price of the Subject Property was not included in her comparables, as explained above. Comparables Nos.
Only the January 2, assessment date is at issue here. Five of the comparables were located within 1. The remaining two comparables were approximately 5 miles from the Subject Property. The gross lease area of Comparables Nos. Morescki gives Comparable No. Because Comparables Nos. Morescki adjusted these comparables for the size differential.
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We agree and will therefore give lesser weight to Comparables Nos. Comparable No. The Subject Property is approximately 22 years old.
Thus we give Comparable No. They are not, however, located on a golf course like the Subject Property. Petitioner argues that the Comparables are not truly comparable to the Subject Property and gives square footage too much emphasis. We find Ms. Her comparables were very close to the Subject Property in age, size, and proximity. In reviewing the testimony and evidence regarding the sale price of the Subject Property, we are not persuaded that the sale price was at market. Rather, we were persuaded by Ms. County of Renville , N. County of Anoka , File Nos.
C et al. Tax Ct. County of Anoka , File No. C Minn. Ramsey County , N.
Ridgedale v. County of Hennepin , N. Davis , N. Schoberg , N.
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County of Ramsey, File No. C April 4, County of Ramsey , File Nos. C and C Minn. Start filing your tax return now There are days left until taxes are due. Try our FREE income tax calculator.
Winona County Assessor. Contact Info: Phone. Get driving directions to this office. Winona County Assessor's Office Services The Winona County Tax Assessor is the local official who is responsible for assessing the taxable value of all properties within Winona County, and may establish the amount of tax due on that property based on the fair market value appraisal.
The Winona County assessor's office can help you with many of your property tax related issues, including: Property Tax Appraisals The Winona County Tax Assessor will appraise the taxable value of each property in his jurisdiction on a yearly basis, based on the features of the property and the fair market value of comparable properties in the same neighbourhood.
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The assessor's office can provide you with a copy of your property's most recent appraisal on request. Property Renovations and Re-Appraisals If you renovate your property such as by adding living space, bedrooms, or bathrooms , the Winona County Assessor will re-appraise your home to reflect the value of your new additions. Renovations may be reported to the Assessor's Office by the zoning board, contractors, or by the homeowner themselves.
Unreported renovations will generally be discovered by the Assessor during the next on-site appraisal of the property. The Assessor may also re-appraise a property in the event of significant damage Paying Your Property Tax The Winona County Tax Assessor can provide you with a copy of your property tax assessment, show you your property tax bill, help you pay your property taxes, or arrange a payment plan. Payments may be made to the county tax collector or treasurer instead of the assessor.
Homestead Exemptions The Winona County Tax Assessor can provide you with an application form for the Winona County homestead exemption, which can provide a modest property tax break for properties which are used as the primary residence of their owners. Additional exemptions might be available for farmland, green space, veterans, or others.
Call the Assessor's Office and ask for details. Property Tax Appeals If you believe your house is unfairly over-assessed, the Winona County Tax Assessor can provide you with a tax appeal form and inform you of the tax appeal process. If your appeal is accepted, your property valuation and property taxes will be adjusted accordingly.