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Form 8812 Minnesota Hennepin: What You Should Know

Joint Proposal for Uniform Scheduling of Property Assessed by the Property Appraiser Aug 28, 2023 — Property Appraiser (formerly Minnesota Bureau of Insurance) is one of two agencies that must prepare estimates (purchase) and appraisals (sale) of a property owner's total property value. This change will increase state and local taxpayers' ability to protect homeowners from overvaluation by requiring property appraisers to follow the same schedule for reporting property assessment values as Property Appraiser (previously MBI), the Property Appraiser Board of the State of Minnesota and the State of Minnesota. Joint Proposal for Uniform Property Appraisal Scheduling Jun 18, 2023 — Property Appraiser will be required to use a consistent schedule for property valuations. This will help ensure the state's appraisers follow state, county and local laws regarding property valuation. Joint Proposal for Uniform Property Assessed Rating Schedule Sep 6, 2023 — Property Assessor will be required to use the same schedule for property valuations regardless of whether they are required by state, county, or municipality. Filing of Joint Proposal for Uniform Property Assessed Rating Schedule Sep 18, 2023 — Property Assessor will be required to use a consistent schedule for property valuations regardless of whether they are required by state, county or city. We anticipate this will allow local municipalities and homeowners to have greater confidence in appraisal results and provide greater transparency to their property value. Dec 4, 2023 — Property Assessment Division of the State of Minnesota, Board of Appraisers (MBI), Board of County Commissioners (PC), Board of Property Appraisers (PAA), Property Appraiser Board of the State of Minnesota (PBIS), and Professional Appraisers Association (PAA-MN) will adopt a uniform rating schedule. State, county and city property assessment schedules will be aligned by adopting this uniform property assessment rating schedule. Dec 1, 2023 — The uniform property assessment rating schedule will become effective. This uniform schedule allows homeowners and developers to be confident when they file property assessments for value and quality.  MBI will continue with business reporting of property values; PC will continue with business reporting of appraisals; PBIS will continue with business reporting of appraisals; PAA-MN will continue with business reporting of appraisals; PBIS-MN will continue with business reporting of appraisal.

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