Property Taxes Drop in Minot - KFYRTV.COM - Bismarck, ND - News, Weather, Sports

Property Taxes Drop in Minot

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About 4,500 property tax statements will be sent out to Minot residents in the next few days.  This includes vacant lots and recently annexed homes that have now come online.

 Last year, property assessments increased about 13 percent, but thanks to the state legislature, property taxes in Minot dropped about 25 percent due to property tax relief efforts.

 Assessments are based on market value, so as people continue to recover from the 2011 flood and as construction begins to catch up with the demand, the market has begun to level off.  So, Minot residents will not notice as much change this year.

"I would say the average increase is probably going to be no more than a couple of percentage points.  So, with that point, you're probably not going to get a notice because you only get a notice of increase if your assessment would change by 10 percent," says Kevin Ternes, City of Minot Assessor.

If you questions about your notice, you can call the city assessor's office at 857-4160.

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