34:58The presentation by Carl, a key figure in the county board of appeal, detailed the significant rise in new construction projects affecting property values. This 40% increase from the 2014 to the 2025 assessment was attributed to several major developments, including significant buildings in Ashby and a new John Deere dealership. These projects have introduced new tax implications, particularly concerning digesters associated with the developments. Although taxed at a higher rate than agricultural properties, such digesters are not considered part of real estate for tax purposes.

17:11Residential property values have also experienced increases, particularly in the mid-range market. The average sales price for residential properties not located on water was reported around $170,000. Over the past decade, property values in the county have seen an estimated 10% annual increase, a stark contrast to the typical 3% to 5% inflation rate. This upward trend was not mirrored in high-end properties, which have seen relatively stable sales prices.

The meeting covered a variety of topics related to property assessments and sales data. Carl provided an overview of county sales activity, noting that while 210 sales occurred, not all were classified as good sales. The presentation included discussions on residential sales trends and methodologies employed to align assessments with state expectations. A focus was placed on ensuring that property assessments align with market values, maintaining a range of 90% to 105%. If assessments fall outside this range, adjustments are made to align with state standards.

27:07Discussions also extended to the valuation of vacant land, where a doubling of land value was necessitated due to prior undervaluation. The median ratio was reported at 52%, a notable increase from the previous year’s 94%, prompting a reevaluation of properties during the local board of appeal process. Adjustments were applied equitably across all parcels, reflecting community feedback and ensuring fairness in property valuations.

12:08The meeting addressed the agricultural market’s substantial influence on residential and commercial properties, noting that it comprises 78% of the county’s market. The addition of $5 million worth of new construction to the tax base was highlighted as a mitigating factor for valuation increases. The Green Acres program, with 177 parcels enrolled, was discussed, including the process of notifying property owners before assessments and handling objections and appeals.

A significant aspect of the meeting focused on the classification of property sales and the impacts of special assessments. It was noted that special assessments could not be factored into property valuations under state regulations, despite their potential to affect property values. The board discussed the methodology used to determine property classifications, emphasizing that valuation is based on actual use rather than zoning designations.

31:16Lakeshore sales were briefly mentioned, with only modest activity noted. Two sales on Pelican Lake resulted in a 3% increase in valuations, though insufficient data precluded reliable projections for 2026. However, the impact of lakeshore sales on the broader market remained limited.