Market Value

A home made out of fifty dollar bills.

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: 2014
The 2014 total market value for the City of Minnetonka is over $7.97 billion.
Median value: 2013
In 2013, the median value for a single-family residential property in the City of Minnetonka was $292,600.