- Determining your home’s market value
- The City of Minnetonka Assessor’s office uses a computerized mass appraisal system to determine your market value. This involves adjusting all property values annually, based on actual sales of similar properties and allowing for statistical analysis.
- Assessing requirements
- Minnesota State Statutes require that assessors physically view each parcel of real estate to appraise its market value. Minnesota Statute 273.03 defines market value as “the usual selling price at the time of assessment.”
- Citywide total market value: 2011
- The 2011 total market value for the City of Minnetonka is over $7.69 billion.
- Median sales price: 2010
- In 2010, the median sales price for a single-family residential property in the City of Minnetonka was $325,000. In 2000, the median sales price was $238,000.