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.