It shall be the duty of every assessor and board, in estimating and determining the value of lands for the purpose of taxation, to consider and give due weight to every element and factor affecting the market value thereof, including its location with reference to roads and streets and the location of roads and streets thereon or over the same, and to take into consideration a reduction in the acreage of each tract or lot sufficient to cover the amount of land actually used for any improved public highway and the reduction in area of land caused thereby. It shall be the duty of every assessor and board, in estimating and determining the value of lands for the purpose of taxation, to consider and give due weight to lands which are comparable in character, quality, and location, to the end that all lands similarly located and improved will be assessed upon a uniform basis and without discrimination and, for agricultural lands, to consider and give recognition to its earning potential as measured by its free market rental rate.
When mineral, clay, or gravel deposits exist on a property, and their extent, quality, and costs of extraction are sufficiently well known so as to influence market value, such deposits shall be recognized in valuing the property; except for mineral and energy-resource deposits which are subject to taxation under section 298.015, and except for taconite and iron-sulphide deposits which are exempt from the general property tax under section 298.25.
Notes of Decisions
Cnty. of Aitkin, relators v. Blandin Paper Co., 883 N.W.2d 803 (Minn. 2016).
· cites it 14× “Additionally, the proponent must show that the method results in a determination of the fair market value of each parcel before the tax court in accordance with Minn.Stat. § 273.12. We conclude that appraisal evidence that uses the unit-rule method to determine the fair market…”
McNeilus Truck & Mfg., Inc. v. Cnty. of Dodge, 705 N.W.2d 410 (Minn. 2005).
· cites it 8× “" Minn.Stat. § 273.12 (2004). The appraiser must assess the actual market a hypothetical buyer of the subject property would look at, and consider comparable sales of properties in that market.”
Cnty. of Dakota v. Cameron, 839 N.W.2d 700 (Minn. 2013).
· cites it 2× “2009); accord Appraisal Institute, supra, at 137; see also Minn.Stat. § 273.12 (2012) (directing a tax assessor to “consider and give due weight to lands which are comparable in character, quality, and location, to the end that all lands similarly located and improved will be…”
Dealers Mfg., Co. v. Cnty. of Anoka, 615 N.W.2d 76 (Minn. 2000).
· cites it 8× “" The court further noted that assessors are required to consider all relevant factors when valuing property and to assess property at market value, see Minn. Stat. § 273.12 (1998); Minn.Stat. § 273.”
Montgomery Ward & Co. v. Cnty. of Hennepin, 450 N.W.2d 299 (Minn. 1990).
· cites it 2× “Minn.Stat. § 273.12 (1988). Even Hennepin County’s expert testified that he believed that the evidence introduced in Eden Prairie Donaldson ⅛ was relevant.”
Lewis v. Cnty. of Hennepin, 623 N.W.2d 258 (Minn. 2001).
· cites it 2× “Appraisers must consider all relevant factors, Minn.Stat. § 273.12 (2000), and whenever possible should use at least two approaches to determine market value.”
Theobald v. Cnty. of Lake, 712 N.W.2d 180 (Minn. 2006).
· cites it 5× “Relator now contests this decision, arguing that the county assessor’s statutory duty to uniformly assess similar properties requires that his land should not have been assessed at a higher value merely because it was comprised of 11 taxable parcels, not one.”
Am. Express Fin. Advisors, Inc. v. Cnty. of Carver, 573 N.W.2d 651 (Minn. 1998).
· cites it 2× “Furthermore, because Minnesota law requires that every assessor “consider and give due weight to every element and factor affecting the market value” of real property for purposes of taxation, Minn.Stat. § 273.12 (1996), we have stated that circumstances will rarely warrant…”
— Minn. Stat. § 273.12(c)(3) — 1 case
— Minn. Stat. § 273.12(c)(3)(i) — 1 case
— Minn. Stat. § 273.12(c)(3)(ii) — 1 case
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