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NOTICE OF YOUR PROPERTY'S ESTIMATED MARKET VALUE AND PROPERTY CLASS FOR PROPERTY TAXES YOU WILL PAY IN 2000 State law requires all property owners to be notiliecl ct any changes ~n their market value or property class. ***--************************************************************ PIN: I Property Class: 1. Estimated Market Value for Payable 2000 .................................................... .$ la. Limited Market Value for Payable 2000 ................................................ .$ 2. Classified Value for Payable 2000 ....................................................................... .$ 2a. Limited Classified Value for Payable 2000 ........................................... $ 3. Value of New Improvements .................................................................................. .$ 4. Value Exemption for Certain Improvements ............................................... 5. Taxable Market Value for Payable 2000 .......................................................... .$ Your property's market value shown on line 5 is the amount that will be used to determine your property tax bill. Local Board of Review Meeting County Board of Equalization Meeting PRELIMINARY REVIEW If you feel the valuation or classification is incorrect or if you have any questions concerning this notice, you may wish to contact your assessor's office at: You may contact your Assessor at the phone numbers listed under the Board of Review/Equalization meeting information. PLEASE NOTE: This preliminary rewew is provided as a service to property owners, it is not a formal part of the review process law. Ifyou do not feel there has been a satisfactory response to your concerns, you may still use the appeals process. See back of this form for formal appeal process, Property Class is the statutory classification that has been assigned to your propertY based upon the use of the property. Important:~A change in the classification of your property canhave a significant impact on the real estate tax payable. Compare the payable 2000 ,property class listed above to the enclosed payable 1999 tax statement. Taxable Market Value is the value your 2000 tax will be based on. It is the final value after all reductions, limitations and deferrals. Compare Line 5 .above to the enclosed payable 1999 taxable market value to determine the change in your property's taxable market value. . Estimated Market Value represents the assessor's estimate of your property's actual market value. Market value is defined as the most probable price that a well informed buyer would pay a well informed seller for a property without either party being unduly forced to buy or sell. Limited Market Value - Certain classes of property (agO'cultural homestead or nonhomestead, residential homestead or nonhomestead, noncommercial seasonal recreational residential) have the amount that their value can increase limited to a maximum increase of ten percent over last year's taxable value or 25. % of the difference between last year's taxable market value and this year's market value, whichever is greater. This limit does not apply to an increase in your value due to improvements made to your property. Value of New Improvements - Is the Assessor's value estimate of improvements that have been made to the property since the last assessment inspection. This Old House - Certain Improvements to homestead property may be .fully or partially excluded from the valUe of the property for assessment purposes for a specified period of time provided the house is at least 35 years old at the time of the ~mprovement. More information on this program may be obtained by contacting your county assessor's office. · Detach Here · ·Detach Here · ANOKA COUNTY PAYABLE 1999 STATE PAID PROPERTY TAX REFUND INFORMATIOI~ 1'11~: Market Value: New Construction Value: Property Class: 1998 1999 Owner: Taxpayer: Line 1 Amount to use in fiili~g .out your property tax refund form M- 1PR, if eligible.i.....~ ............................................................................................... i .................................. Line 2 Amount to use in filling out ,,chedule 1 of form M-1PR, if eligible. ......................................... If this box Is checked, you owe delinquent taxes ........................... [r---~Detaoh this stub and Include itwlth your i I M-~PR form when applying for a refund