The real estate taxes you owe in 2009 will be based on a percentage of your local assessor's determination of the fair market value of your real estate as of a year ago, January 2, 2008. A reduction in that valuation will generally reduce the 2009 taxes you owe on your property.
If you believe that the assessor's determination of the fair market value for your business property as of January 2, 2008, was too high (or if you believe that your property has been partially, inequitably or unequally assessed) you may appeal that valuation by filing a petition in the Minnesota Tax Court.
The petition must be served and filed on or before April 30, 2009, or you will forever lose your right to appeal for taxes payable in 2009 (it is recommended that you file well before April 30, 2009). If the court determines that the assessed value was too high, or if the county agrees to settle and lower the assessment, your property tax bill will be reduced for 2009, and you will receive a refund for any overpayment.
Please contact a member of our team if you are not sure whether to file an appeal, need assistance with the appeals process or have further questions regarding this important issue.
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