Assessments Being Sent Out | VideoAmy Fox | 3/5/2013
About 9,500 notices will be sent out to owners of single family homes in Minot, which are about three-fourths of the total homes in the city. With all of the economic development in the area, the city is trying to keep up with the growing property value.
Last year, homes sold for 18-19 percent more than what they were assessed at.
"When we`re that far below market, we have to make some adjustments according to the state statute,Ē said City Assessor Kevin Ternes. ďWe`re actually supposed to be assessing at market value, so that`s why and adjustments are being made to bring things up closer to what homes should be selling for."
Ternes said an increased assessment does not always mean increased property taxes. If you have questions about your assessment, contact the Minot City Assessorís Office at 701-857-4160.