The Minot City Assessor's Office is primarily responsible for assuring that every parcel of land and the buildings upon it are uniformly appraised and then assessed for tax purposes.
In order to perform this task, every real estate transaction is documented in this office. This allows our office to prepare and maintain accurate records.
Through the aid of a Computer Assisted Mass Appraisal system, an inventory is maintained for over 19,500 properties. We also maintain a color picture file on over 15,000 buildings. We are then able to arrive at a fair estimate of true and full value.
The estimated true and full value is then verified for accuracy through field inspections by our 5 person appraisal staff. The staff appraiser can raise, reduce or maintain the computer generated value based on the models generated by buyer and seller actions in the local real estate market.
Properties are physically inspected every 7 to 8 years on a geographical basis. Once the estimated true and full value is established and certified through city, county and state boards of equalization, the values are uploaded to the computer system.
The county then calculates taxes for each parcel based on budgeted needs of government entities. The total 2014 mill levy is 268.62 less a 12% property tax relief discount paid by the State. The North Dakota Assessment date is February 1st each year.
The local governments' operating revenue is determined by the elected officials and local needs approved by the governing board. Once the yearly budget is defined, it is divided by the taxable value to obtain the mill levy which is then applied to each parcel to determine the tax liability.