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Understanding Your Assessment and Tax Calculation <br />ANOKA <br />COUNTY <br />So in review, by the time you are paying your 1st half real estate tax on May 15th, the sales that were <br />used to determine the estimated market value on which those taxes are based occurred somewhere <br />between 19 and 31 months earlier. The following chart may be helpful in following the timeline of your <br />assessment. <br />SALES PERIOD <br />ASSESSMENT DATE TAX YEAR <br />October 1, 2007 <br />to <br />September 30, 2008 <br />January 2, 2009 <br />2010 <br />October 1, 2008 <br />to <br />September 30, 2009 <br />January 2, 2010 <br />2011 <br />October 1, 2009 <br />to January 2, 2011 2012 <br />September 30, 2010 <br />• <br />Property Value and Property Taxes <br />It's important to note that the assessment is complete before the budgeting process begins. Assessors <br />do not adjust values in order to increase revenue. There is little correlation between changes in <br />assessments due to market changes and how the resulting real estate tax changes. When we adjust <br />assessments due to those fluctuations in the market, all properties are adjusted. The only time an <br />adjustment in an assessor's estimated market value will have an impact on the increase or decrease in <br />tax is if the change in value is due to value added for new construction or value removed due to <br />demolition/destruction of an improvement. How your tax amount changes from year to year is <br />influenced more by statutory changes to the tax structure and revenues needed by your local taxing <br />authorities (including school districts). If we were to reduce all values by 50%, the resulting tax would <br />not go down by 50%, the tax rates would be increased to generate the same tax revenue. <br />Anoka County Property Records and Taxation Assessor's Office <br />www.anokacounty.us/prop-records-tax <br />763-323-5475 <br />Page 4 <br />