2022 Estimated Market Value Increase
The typical single-family home in Scott County saw a median increase in Estimated Market Value (EMV) of 23% for the 2022 Assessment.
- The size of the increase can very greatly depending on the type of home and location.
- Large cities saw median increases of around 21%, where small cities and townships saw growth closer to 26%.
This historic growth in value took place in most communities across the metro.
*This map is an indication of either average or median percent changed as reported by the jurisdiction*
Homeowners will notice the increase reflected in their 2022 Valuation Notices, which are expected to begin arriving in mailboxes the week of March 14th.
Property Assessment Frequently Asked Questions
If my home value went up 23%, will my taxes go up 23% too?
- A property valuation increase does not necessarily lead to a proportionate property tax increase. While we do expect a shift in tax burden from commercial to residential properties for taxes payable in 2023, many factors will determine the amount each taxpayer owes, including property classification, individual value change, and homestead market value exclusions.
What caused the historic increase in value?
- A shortage of homes for sale coupled with high demand for single family housing;
- Historically low interest rates; and
- Historically high construction costs.
How does the Scott County Assessor determine the market value of my home?
- The annual assessment process analyzes what a property would sell for in an open market transaction. The assessor estimates values based on actual sales of comparable properties that occurred in the prior sales study.
What factors determine a property’s value?
- A property’s market value can be affected by multiple factors such as size, age, condition, quality of construction, and other features (such as fireplaces, decks, porches, et cetera). As a result, two neighboring homes, while looking similar from the exterior, can have varying market values.
- A property's location can also play an important factor in the estimated market value. The configuration and features of the lot can also result in differences in market value from neighboring properties.
What do I do if I think my home valuation is incorrect?
- The time to appeal your 2022 Estimated Market Value has past. Tax payers have from mid-March until mid-June to appeal their property values. When the Truth in Taxation Notices come out in November, it will be too late.
- If you think your 2022 Estimated Market Value is incorrect and the date to appeal has past, you always have the option of filing with the MN Tax Court. MN Tax Court Petitions for your 2022 Estimated Market Value must be filed prior to April 30th, of the year taxes are payable. For more information on MN tax Court please visit https://www.scottcountymn.gov/413/Minnesota-Tax-Court.
- Please reference the bottom of your Value Notice for yearly appeal deadlines. The back of your Value Notice has more detailed information on when you must appeal your value. The sooner you contact the listed assessor, the better.