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Property values down countywide

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The trend is a downward one.

According to the annual report released this week by the Dakota County Assessing Services, the majority of property market values in Dakota County showed a decrease this year. The information was presented this week to the Dakota County Board of Commissioners.

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It showed that most residential property values have decreased between 7 percent and 8 percent for 2010. Apartments are experiencing an aggregate reduction of 7 percent, while commercial properties have decreased 6 percent. Estimated values for agricultural land decreased 25 percent. Taxable agricultural land values, however, which Dakota county received from the Minnesota Department of Revenue, were unchanged for 2010.

Countywide taxable market values, including new construction, decreased about 6.6 percent - to $38.3 billion. The total net tax capacity has decreased 6.5 percent for the 2010 assessment, taxes payable in 2011 -- $450,765.130.

Valuation notices for 2010 market values were mailed March 2. Approximately 148,000 notices were sent to manufactured home, real and personal property owners.

The assessing services department has scheduled its open booking meetings and board of appeal and equalization calendar for this year. The information is available on the county's web site at www.co.dakota.mn.us.

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