What is Estimated Market Value (EMV) and how does the assessor determine it?

The Estimated Market Value is the price that would tend to prevail under typical, normal, competitive open-market conditions.

The Morrison County Assessor’s office uses a mass appraisal process for estimating market values. This system involves the comparisons between similar properties and actual market sales in a neighborhood. All sales information collected by the assessor’s office is closely analyzed. The assessor’s office adjusts market values by comparing properties that sold with properties that have not sold. This sale comparison by means of substitution provides the basis for the assessor’s Estimated Market Value.

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1. How are my Real Estate taxes determined?
2. Why has my value gone up?
3. Who is my Appraiser?
4. What is Estimated Market Value (EMV) and how does the assessor determine it?
5. Are Property Estimated Market Valuation increases limited to 15%?
6. Can my Estimated Market Value change even if the assessor has not been inside my property?
7. How can I judge the accuracy and fairness of my value and classification?
8. Does the Estimated Market Value increase at the same rate on all properties?
9. What is a Property Identification Number (PIN)?
10. What is a Special Assessment?
11. Who determines my property tax?
12. Why is the amount of taxes on my tax statement I received in March/April different than what was shown on the Notice of Proposed Taxes that I received in November?
13. Will my Estimated Market Value go up if I repair my property?