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Property values rise in Dakota County

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news Rosemount, 55024

Rosemount Minnesota P.O. Box 192 / 312 Oak St. 55024

More than 147,500 valuation notices are currently being mailed to property owners in Dakota County, and the results are a mixed bag.

The information is being mailed to manufactured home, real and personal property owners. About 1,300 property owners received e-notices this year.

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According to Dakota County Assessor Bill Peterson, "market value changes varied across property types for the 2013 assessment for taxes payable in 2014."

Most apartment values were unchanged, except for the larger properties, which increased slightly. Residential properties increased on average between 2 percent and 3 percent.

That was different for Hastings, according to the report.

For the city of Farmington's 5,907 residential homesteads, the valuation showed an increase of about 2.4 percent for the year. A median-value house showed an increase from $167,000 in 2012 to about $171,000 this year.

In Rosemount, 6,232 residential homesteads showed an increase of 3.76 percent, from $195,700 for a median-value home last year to $203,050 this year.

Agricultural land estimated market values increased about 20 percent, but taxable values the county received from the Minnesota Department of revenue increased approximately 30 percent for 2013.

Countywide, taxable market values, including new construction, increased about 3.6 percent to $34.68 billion. The total net capacity rate has increased 3.1 percent for the 2013 assessment, taxes payable in 2014, to $412,589,959. This figure will probably change during the year due to valuation and classification changes. Plus, the Minnesota Legislature may make changes that impact value and/or tax capacity values.

Property owners who believe their market value is incorrect should call Dakota County Assessing Service at 651-438-4208, or attend the "Open Book" meetings. A copy of the schedule for those meetings is included in the mailed notices. Two are scheduled from 9 a.m. to 7 p.m. Monday and Tuesday, March 18 and March 19, at the Administration Center in Hastings.

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