Realtors explain Olmsted County property tax increase
(ABC 6 News) – The majority of central and southeast Minnesota saw a significant increase in their property’s value, including Olmsted County.
If you are a homeowner, you have probably also noticed a big increase in your property taxes recently.
Real estate agents in the area say property values have been going up in general over the past two years during the pandemic. They add that over those two years, the average tax increase has been 12 to 15 percent in our market, varying from neighborhood to neighborhood.
"The typical percentage increase is about 3 to 5 (percent), so certainly homeowners have realized the increase in their home’s value," Jeff Leland, a real estate agent at RE/MAX Results in Rochester, said.
Although homeowners are paying more in taxes right now, they say it’s good for when or if they do decide to sell their house.
"If your home is worth ‘X’ amount today, I would assume that if you went to sell it next year at this time it would be worth considerably more," a real estate agent at Casa Real Estate in Rochester, Colin Patterson, said.
If you live in Olmsted County and you do not agree with your assessment and want to appeal it, click here.