Think Your Home Valuation's Too High? Here's What To Do

MAHTOMEDI, Minn. (WCCO) -- Letters are showing up in mailboxes, updating Minnesotans about the value of their property.

The good news is they're most likely going up -- but the concern is how much.

The median increase for homes in the Ramsey County suburbs was 14%. Some Twin Cities homeowners saw double that amount. But a higher home value can mean higher property taxes.

Not too much has changed about Edward Bertsch's Mahtomedi home in the past year, besides his assessed valuation.

"It went up almost 29% basically from one year to the next," Bertsch said.

That increase took his property from $399,000 to more than $500,000.

"I mean it goes up from year to year but that was the first year that it went up by that huge amount," he said.

Ramsey County Assessor Luis Rosario says most homeowners will see a double-digit percentage increase, and last year's hot housing market that had buyers offering over asking price is much of the blame.

"We're seeing homeowners with multiple bid situations and those are driving up the sales … from last year that are being used for the assessment this year," Rosario said.

If you feel your assessment is too high, you can appeal it by calling your assessor's office. An appraiser will visit your home to inspect the outside and inside.

"Sometimes they do not want to let us into their home because they've done some major remodeling, or kitchen remodel that we may not have had in our information," Rosario said.

But if you have major work that's needs to be done -- and can prove it -- that could lower the valuation.

If you fail to get your assessment changed, there are ways you can still save money. You could be eligible for a property tax refund.

"Maybe it was in 2020, we had about $25 million left on the table … from people not filing their property tax refund," he said.

Bertsch will hold off on calling his assessor, but that's only for this year.

"Where it's at right now is not so bad. Where it might go, that's what is the concern," Bertsch said.

If you plan to call your assessor, you're advised to do it as soon as possible. The rough deadline for Ramsey County is mid-June.