NEWS RELEASE
FOR IMMEDIATE RELEASE:
April 28, 2020
CONTACT: Mary Garness, Public Records and Property Valuation Director
218-726-2675
Estimated Market Valuation notices sent
Property owners in St. Louis County have now likely received their annual Valuation and Classification Notice in the mail. This notice provides information on property classification and estimated market valuation (EMV). In other words, it is an estimate of what the property would sell for if offered for sale.
Worth noting - the EMV notice reflects the valuation as of January 2, 2020, and thus any effect of the COVID-19 pandemic is not factored into it.
Among the areas seeing the largest change in valuation are the commercial/industrial parcels in downtown Duluth and in West Duluth. Many of these parcels - in particular in West Duluth - had not been physically inspected by an appraiser in 10-15 years, and some had not seen any change in valuation during that same time period.
"Any time there is a large change in valuations, we know it can be concerning," said Mary Garness, director of Public Records and Property Valuation. "And the timing of this makes it especially difficult, when so many people are hurting due to the COVID-19 situation. But the reality is these changes in valuation were long overdue, and for us to not make these adjustments would be unfair to our other taxpayers."
As always, property owners are encouraged to review their Notice of Valuation and Classification closely. Any questions or concerns should be directed first to the County Assessor's Office. Contact information can be found on the notice. Appraisers will review any concerns and can provide an explanation of how the valuation amount was determined based on parcel records, local sales activity and general market trends.
After talking with the assessor, anyone with continued concerns has the right to appeal. Due to ever-changing restrictions and precautions surrounding COVID-19, the way that local board of appeal and equalization (LBAE) meetings will be held will be different. The schedule and latest information can be found on the county's website at stlouiscountymn.gov/assessor.
Overall, total growth in the 2020 assessed value of St. Louis County real property was $514.6 million. This included nearly $156 million of value from new construction. The complete 2020 Assessment Summary for St. Louis County is available online at stlouiscountymn.gov/assessor.
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