Minneapolis, MN
Minneapolis' total property value falls for second consecutive year
The new values are based on sales that occurred between October 2023 and September 2024. A handful of high-profile downtown office buildings, including the Wells Fargo Center and Ameriprise Financial Center, have sold for deep discounts in the time since.
When determining valuations, assessors take a variety of factors into account, including: real estate market conditions; sales prices of similar properties; neighborhood location; and the size, quality and condition of the property.
Property owners who disagree with their assessments can appeal them. To do so, the city instructs taxypayers to first contact the assessor listed on their valuation notice. Many issues are resolved through a conversation, though those that are not can be appealed to the Local Board of Appeal and Equalization or state tax court.