Item 1. Local Board of Appeal and Equalization2026 ASSESSMENT
OVERVIEW
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Set Budgets
These determine how
large or small the
property tax levy will
be.
Value and Classify Property
Administer state property tax
programs.
These factors determine the
portion of property tax the
property owner will pay.
MINNESOTA PROPERTY TAX SYSTEM
Legislation is passed
guiding the Minnesota
property tax system.
Oversight and guidance
is provided to MN Assessors.
Local Taxing Authorities
(County/City/Township/School District/LIDs)
Calculate Tax Rates
Ensure the levied amount is
collected from taxable property
within each taxing district.
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5 .4 .3 .
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TO VALUE AND CLASSIFY PROPERTY
Property Value:
Based on market data including sale prices, cost to construct and income produced.
Property Classification:
Based on the current use of the property.
(This may or may not match the current zoning of the property.)
The combination of property value and classification determines the Tax Capacity for each property.
Tax capacity combined with local tax rates determine the portion of property taxes each property
owner will pay.
It is the responsibility of the Assessor to accurately value and classify property to ensure that the tax
capacity is fair and equitable across all property types and jurisdictions within the County and in
accordance with state statute.
The Minnesota Department of Revenue directs and regulates the work done by Minnesota Assessors.
The State Board of Assessors oversees the education, training and licensure of Minnesota Assessors.
WHAT IS THE ROLE OF THE ASSESSOR?
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10/1/2024
thru
9/30/2025
January 2nd, 2026 Assessment Date
March Valuation Notices Mailed
April - May Appeals: Local Boards of Appeal and Equalization and Open Book
June County Board of Appeal and Equalization
June State Board of Equalization
June
July
August
September Truth in Taxation Levy Certifications
November Truth in Taxation Notifications Mailed
December Final Budget Hearings; Final Levy Certifications
January Tax Rates are calculated
March Property Tax Statements Mailed
May 15th, 2027 1st Half Taxes Due
October 15th, 2027 2nd Half Taxes Due - excluding Agricultural property
November 15th, 2027 2nd Half Taxes Due on Agricultural property2027Property Taxation Timeline: 2026 Assessment / 2027 Payable Year
20262024 2025Sales study period for the 2026 Assessment.
Sales are verified, analyzed, and
compared to the 2025 Assessed Values.AssessorTaxpayer ServicesLocal Taxing AuthoritiesDevelop Preliminary Budgets at Local, County
and School District Levels for 2027
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PROPERTY OWNER APPEAL OPTIONS
Local Board of Appeal and Equalization Meetings
April 6th – April 23rd
Meetings held by the local city or township.
Property owners must appeal at this level to be heard at the County Board level.
Open Book Meetings
Property owners in these districts can appeal to the County Assessor’s office up until the County Board of Appeal and Equalization meeting in June.
Wright County Board of Appeal and Equalization
June 15th, 2026
Appointments required by June 8th, 2026
Minnesota Tax Court
Deadline to file: April 30th of the year in which the property taxes are payable.
Property Owners do not have to appeal at any other level prior to filing in Tax Court.
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2026 ASSESSMENT SUMMARY
2026 Market Value Increase: 7.17% including new construction on taxable property types.
* The current assessment meets or exceeds standards for uniform assessment in all jurisdictions as established by the International Association
of Assessment Officers and the Minnesota Department of Revenue.
$14.90
$15.97
$16.92
$18.08
$21.94
$25.67 $26.21
$27.79
$29.78
10.00
12.00
14.00
16.00
18.00
20.00
22.00
24.00
26.00
28.00
30.00
2018 2019 2020 2021 2022 2023 2024 2025 2026
*Values from MN DOR PRISM Report which excludes: exempt, personal
property, and state assessed values.
County EMV (in billions)
7.91%7.19%5.97%6.85%
21.34%
16.99%
2.10%
6.03%7.17%
0%
5%
10%
15%
20%
25%
2018 2019 2020 2021 2022 2023 2024 2025 2026
Total % Change (YoY)
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2026 ASSESSMENT SUMMARY
Wright County Valuation Change
Property Type Gross Change
(including New Construction)
Net Change
(excluding New Construction)
Residential + 5.55%+ 3.35%
Seasonal Residential + 9.95%+ 8.80%
Agricultural / Rural + 12.88%+ 12.62%
Commercial + 8.13%+ 6.54%
Industrial + 13.38%+ 10.73%
Apartments + 4.61%+ 3.02%
Manufactured Home Parks + 28.04%+ 28.04%
Total Valuation + 7.17%+ 5.32%
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Agricultural
$4,234,173,025
13%
Apartments & MH Parks
$1,033,354,500
3%
Commercial
$1,706,447,600
6%
Exempt
$2,086,509,700
7%
Industrial
$1,011,686,000
3%
Residential
$20,441,732,275
64%
Seasonal Residential
$1,351,696,300
4%
2026 Assessment EMV Breakdown by Property Type
Agricultural Apartments & MH Parks Commercial Exempt Industrial Residential Seasonal Residential
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2026 ASSESSMENT SUMMARY
Wright County Growth
Calendar
Year Plats New
Parcels
Total
Parcel
Count
New
Homes
2025 50 1,090 73,492 1,081
2024 40 847 72,481 1,043
2023 46 712 71,652 1,031
2022 53 1,370 71,063 1,120
2021 66 1,982 69,807 1,413
2020 53 643 67,990 1,223
2019 50 821 863
2018 43 797 913
$223 $271 $294 $317
$405
$582 $610
$510
$576
$513
$0
$100
$200
$300
$400
$500
$600
$700
Total New Construction Value Added
(in millions)
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
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LOCAL BOARDS OF APPEAL AND EQUALIZATION
The Fine Print:
Purpose of the Local Board:
Review the 2026 Assessment for property taxes due and payable in 2027
Sales Study Period October 1st, 2024 – September 30th, 2025
Review data provided by Property Owner’s and the Assessor to determine if a change to value or classification is warranted.
Prior to making a change, a physical inspection of the property should be conducted by the Assessor to ensure the property data is
accurate. If access is denied, an adjustment can not be made by the LBAE.
Changes to the value or classification of an individual parcel can be made based on the factual information provided during the meeting
and in accordance with MN Property Tax statutes.
Relevant Statutes:
A quorum must be present with at least one “Training Certified” member as described under MN Statutes, section 274.014
MN State law requires the assessor to value property at full market value. MN Statutes, section 273.11
The assessor’s estimate of market value is prima facie valid correct. The burden of proof is on the property owner to prove that the
assessor’s value is in error. MN Statutes, section 271.06
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LOCAL BOARDS OF APPEAL AND EQUALIZATION
The Fine Print:
Making Changes at the Local Board:
The Local Board shall consider all appeals and the factual evidence provided. They may then choose to do one of the following:
1.Vote to change the property value or classification based on factual evidence provided by the property owner.
2.Vote “No Change” on the property. The property owner retains the ability to appeal at the County Board of Appeal and Equalization or
file in Tax Court.
3.Recess the meeting to a later date if a decision can’t be made.
Remember that changes made should be justified by facts as they have the effect of shifting the tax burden onto other property owners in
the district.
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PROPERTY OWNER RESOURCES
Wright County Assessor’s Office 763-682-7367
https://www.co.wright.mn.us/134/Assessor
3650 Braddock Ave NE, Suite 1700
Buffalo, MN 55313
Minnesota Department of Revenue
Property Tax Information: https://www.revenue.state.mn.us/property-tax-information
Understanding Property Tax: https://www.revenue.state.mn.us/understanding-property-tax
Estimated Market Value: https://www.revenue.state.mn.us/estimated-market-value
Board of Appeal and Equalization Handbook
https://www.revenue.state.mn.us/sites/default/files/2021-12/baetraining_handbook%20122021.pdf
Property Tax Refund
https://www.revenue.state.mn.us/property-tax-refund
Wright County Taxpayer Services 763-682-7578
https://www.co.wright.mn.us/170/Finance-Taxpayer-Services
3650 Braddock Ave NE, Suite 1400
Buffalo, MN 55313
Property Owners can sign up to
receive notices electronically.
Valuation Notices
Truth in Taxation Notices
Ta x Statements
Currently over 2,600 parcels are
signed up for this free service.
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Wednesday, April 22, 2026
Otsego
Local Board of Appeal & Equalization
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Minnesota State Law requires assessors to value property based on historical data. Taxes payable
are always based on the prior year’s value, which was determined using sales data from a
previous time period (see chart below).
Therefore, in an escalating market, assessed values are typically lower than the current market.
Likewise, if sales prices are declining, it’s possible that assessed values will be higher than the
current market. This is due to the time frame we are required to work with and the effects of a
rapidly changing market.
PREVIOUS ASSESSMENT CURRENT ASSESSMENT
Gather & Verify
Sales Data
Valuation
Year
Pay taxes
Oct. 1, 2023
Thru
Sept. 30, 2024
2025
2026
2027
Oct.1, 2024
Thru
Sept. 30, 2025
2026
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SUMMARY OF THE OTSEGO 2026 ASSESSMENT
Estimated Market Value of City of Otsego 2021-2026 Assessment
TOTAL CITY VALUE: $4,221,493,000
(Excludes: exempt, state assessed, & personal property)
$2.47
$3.05
$3.71 $3.73
$3.99
$4.22
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
5.00
2021 2022 2023 2024 2025 2026
EMV (in billions)
EMV
$3,507,416,050,
83%
$151,381,700, 4%
$263,821,800, 6%
$197,541,850, 5%
$12,557,400, 0%
$88,774,200, 2%
Otsego EMV By Class
Residential
Commercial
Industrial
Agricultural
Mobile Home Park
Apartments
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Otsego Valuation Change – 2026 Assessment
Property Type Net Change
(excluding n/c)
Residential +1.83%
Agriculture +3.26%
Commercial +13.30%
Industrial +6.89%
Apartments +1.79%
MH Parks +31.18%
Total Valuation +2.64%
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Residential / Seasonal Recreational
The annual property assessment elements in Otsego consist of new construction, quintile review, and sales
analysis. This year’s 2026 residential assessment activity included 280 net new home permits along with 230+
structure or various item permits for a total new construction value of over $106,000,000. Approximately 2,100
properties were reviewed in the field for quintile, and 330 qualified sales were analyzed for the sales ratio study.
The result of this activity was a 1.83% net increase in total city residential value, year-over-year. After
adjusting for market conditions and equalization, the final median ratio of the 2026 assessment is
95.89%. The State of Minnesota requires assessors to value property at 100 percent of market value with an
allowable median ratio range of 90 to 105 percent.
Wright County Large Cities Net % Change
Total Dollar Value of New Construction 2026 (assessment) compared to 2021-2025
Total dollar value of new construction in Asmt.2026 (Residential) $106,382,400
Total dollar value of new construction in Asmt.2026 (C/I/A/MH)* $ 18,701,800
Total dollar value of new construction in Asmt.2026 (Agriculture) $ 209,600
Total 2026: $125,293,800
Total 2025: $100,727,000
Total 2024: $105,297,700
Total 2023: $176,372,400
Total 2022: $184,300,800
Total 2021: $130,909,900
New Construction Dwellings
(Assessment Year)
Net # of Permits
2026 280
2025 239
2024 252
2023 302
District % Change
Albertville
Buffalo
Delano
2.53
3.46
2.69
Monticello 1.75
Otsego 1.83
St. Michael 3.37
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*Graphs depict only QUALIFIED SALES from 10/1/24 – 9/30/25
$301,343
$349,429
$421,760
$382,192
$399,435
$413,734
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
2021 2022 2023 2024 2025 2026
Time-Adjusted Median Sale Price
$484,721
$461,855
$415,038 $415,009
$288,293
85 sales 34 sales 83 sales 12 sales 112 sales
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
2 Story 1 Story Split Mod. 2 Story
& 1 1/2 Story
Townhome
Time-Adjusted Median Sale Price By Style
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*Value of all improved residential properties including seasonal recreational and
partially complete n/c
$286,400
$345,400
$402,700
$386,400
$402,500 $410,650
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
2021 2022 2023 2024 2025 2026
Median Assessed Value
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2026 Assessment Review Area (in blue)
2025 QUINTILE (Calendar Year)
2024 QUINTILE (Calendar Year)
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