The Assessing Division is part of the Community Development Department. It is responsible for estimating the market value and determining the classification of each piece of property (parcel) in the City of Edina for property tax purposes.
Understanding Property Taxes
This 3-minute video explains the steps, from how your property valuation is determined to how the rates are set.
Valuations must meet the standards established by Minnesota Statutes and the Minnesota Department of Revenue. This office appraises all property at actual market value, determines the current classification/use of the property, informs property owners of their estimated value, conducts Board of Appeal and Equalization, and applies appropriate classification rates, reporting them to the taxing authority.
Online Property Information
Hennepin County has public information available online for all properties. Information includes the name of the owner/taxpayer, the most recent known sale date, links to information on current property taxes, instructions on how to pay current and past-due property taxes, and maps of parcels.
- What caused the historic increase in value?
Many factors contributed to the dramatic increase in value, most notably the competitive real estate market and a shortage of homes for sale.
- How does the City 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.
- 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, etc. As a result, two neighboring homes, while looking similar from the exterior, can have varying market values.
- If my home value went up 15%, will my taxes go up 15% too?
A property valuation increase does not equate to a property tax increase. Many factors will determine the amount each taxpayer owes, including property classification, individual value change and homestead market value exclusions.
- What happens if the sales prices go back down this year?
If future sales indicate market values have dropped, assessors will follow the trend down, as the estimated market value of each home is based on actual sale prices of comparable properties.
- I just moved into a home. Who do I speak to about homesteading?
You can apply for a homesteading classification online or by mail. Visit the Homestead Classification page for instructions.
To apply, you must have a copy of the deed and Certificate of Real Estate Value provided at closing and Social Security numbers of all owners, spouses not on deeds and/or qualified relatives who occupy the property.
If you need assistance or for more information, please contact our Assessing Department at 952-826-0425.