Anoka County MN Housing Market Insights

Our team of experts can help you get ready to sell your house. Get a free estimate on your homes value and learn more about selling your home in Anoka County  Minnesota.

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Here are the most frequently asked questions about selling your home Anoka County

Houses can sell quickly or take a long time. Some factors that can affect the sale of a house are the price, condition, location and whether it’s been used as a rental property.

Tip for selling a home: Make your home look as desirable as possible. You can accomplish this by decluttering, making repairs, and even giving your house a new coat of paint. Tip for selling a home: Home staging is a technique often used by sellers to make their homes more attractive to prospective buyers. It involves using furniture that is neutral in color and design and placing it in areas that are most commonly used.

Home size is a significant factor that determines home inspection costs. Professional inspectors often charge based on the square footage of the home because it largely determines the scope of the work and the length of time they will spend on the inspection.

Home inspections cost as little as \$200 for an area of less than 1,000 square feet (a tiny home or condo, for example). Costs increase as home size increases, with an inspection of an average 1,500-square-foot single family home costing between \$300 and \$400 and a larger multi-family home inspection costing upwards of \$500.

New Construction Home Inspection Cost

It may seem counterintuitive, but you should purchase a home inspection even if the home you’re looking to buy is brand new. It’s important to know the home is structurally sound before you buy. And if you find an issue, the home builders have resources necessary to make requested repairs and are more likely to complete them than a homeowner.

A pre-drywall inspection that covers a walkthrough before the builders install drywall will cost between $100 and $300. A home inspection after the home is completed costs $400 on average.

What is Included in the Cost of a Home Inspection?

Each home inspector focuses on different things, so do your research ahead of time to find out what they cover. To cover your bases, find an inspector who will examine several components, including:

  • Yard
  • Exterior structures
  • Plumbing
  • Appliances
  • Roof
  • Attic
  • Foundation
  • Electrical system
  • HVAC system
  • Windows
  • Doors
  • Walls

Your inspector will provide you with a report detailing any issues they found during the inspection along with photos. You may choose to repair these after you purchase the home or negotiate for the seller to complete them before the sale.

 
 
 
11 factors that affect property value
  • Location. The location of a property is the most obvious factor that affects how much a property is worth. …
  • Supply and demand. …
  • Interest rates. …
  • Economic outlook. …
  • Property market performance. …
  • Population and demographics. …
  • Property size and features. …
  • Aesthetics.
We’ve outlined some of the most important factors that influence your home’s value:
  • Neighborhood comps. …
  • Location. …
  • Home size and usable space. …
  • Age and condition. …
  • Upgrades and updates. …
  • The local market. …
  • Economic indicators. …
  • Interest rates.

Having short sales and especially foreclosures on your street decreases the value of your home. Even if they are not direct comparables, as in same square footage and the number of bedrooms and baths, they are in your immediate neighborhood, so can make the entire area depreciate in value.

For most major markets, the Zestimate for on-market homes is within 10% of the final sale price more than 95% of the time. The nationwide median error rate for the Zestimate for on-market homes is 1.9%, while the Zestimate for off-market homes has a median error rate of 6.9%.

  1. Enter your address into a home value estimator. …
  2. Ask a real estate agent for a free comparative market analysis. …
  3. Check your county or municipal auditor’s website. …
  4. Identify trends with the FHFA House Price Index calculator. …
  5. Hire a professional appraiser.

Contained within the city’s newsletter was a sample Valuation Notice
(2022 Values for Taxes Payable in 2023). The intent of providing this
sample was to inform residents of what their Valuation Notice would
look like from Anoka County and to provide options for the appeal
process. The City is aware that many residents felt that it was their true
statement and we apologize for the confusion.
City Assessor, Mary Wells, attended Council’s March 9, 2022 Council
meeting, providing an overview of how values were derived, good sales and statute requirements.
She stated that most property owners throughout Anoka County and the state, will see significant
increases in their 2022 Estimated Market Values due to historically high sale prices this past year.
She stated that in Centerville, values of all property types are increasing significantly, with median
increases in the 17%-30% range, property type and/or neighborhood. Please keep in mind that if
your property was in the 5 year physical inspection area and changes have been made since last
review, or if was work done to improve the property (new garage, basement was finished, addition,
etc.) or if there was damage to the property in 2021, the 2022 value change could be higher or
lower than the medians listed above.
Anoka County will be mailing out Valuation Notices (2022 Values for taxes Payable in 2023)
shortly, it will be blue in color and typically in the same envelope as your taxes payable statement
for 2022. Anoka County has an online resource at: https://www.anokacounty.us/281/About-YourTax-Statements.
If you believe that the valuation or the classification of your property in Centerville, is incorrect,
call Mary Wells at 763-412-1966 x 1 or email her at: mnassessormary@gmail.com. Many
concerns can be resolved with a phone call to Mary. If you prefer to attend an in person meeting
with the Centerville Local Board of Appeal and Equalization, that meeting will be held on
Wednesday, April 13th @ 6:30 PM at Centerville City Hall. This meeting is to discuss the
Estimated Market Value of your property for 2022 for taxes payable in 2023 and not the City’s
budget which will take place later in the year.
PROPERTY VALUE
Attached is an excerpt from a recent article contained in Anoka County’s newsletter
14 Anoka County News Volume 1-2022 15
Homeowners May be Eligible for Property Tax Refunds
Minnesota residents may be eligible for both regular and special property tax refunds, depending on several
qualifications.
The regular property tax refund has income requirements for:
Renters: 2021 total household income less than $64,920.
Homeowners: 2021 total household income less than $119,790.
This year, renters may qualify for a refund of up to $2,280, and
homeowners could receive a refund of up to
$2,930.
For more information, including a link to the M1PR
form to file for a refund, visit
anokacounty.us/303/Homeowners.

 

Those interested in
this program can also call the Minnesota Department of
Revenue 24-hour automated help line at 651-296-3781 or
800-652-9094 to have a form sent to them.
Special Property Tax Refund Requirements
Homeowners may also be eligible for a special property tax refund. This refund has no income
limit, and the maximum refund is $1,000. A homeowner may qualify if all of these are true:


• You owned and occupied your home on Jan. 2, 2021, and Jan. 2, 2022.• Your net property tax on your homestead increased by more than 12 percent from 2021 to 2022.
• The increase was at least $100.
The Minnesota Department of Revenue allows filing for refunds electronically, postmarked or dropped off by Aug. 15.
The final deadline to claim the 2021 tax refunds is Aug. 15, 2023.
“Many homeowners and renters are eligible for property tax refunds, and we encourage residents to apply for these
refunds,” said District 4 Anoka County Commissioner Mandy Meisner. “Anoka County works to get the word out
about these programs each year, so our residents can access the money that’s available to them.”
Valuations Are Just One Factor that Determine Property Taxes
Anyone who owns a house or business is likely aware property values have increased over the past year-plus, and that
trend is likely to continue further into 2022.
So when valuation notices are sent out by Anoka County in early spring this year, it’s very likely, in many cases, property
owners will notice an increase in both their estimated market value and taxable market value. After seeing this increase,
the logical reaction is “My property taxes are going to go up significantly.” This may not actually be the case, because
there are several factors that impact how much a home or business owner pays in property taxes.
“While property value does play a part in the share of taxes an individual pays, it’s less of a factor than one might
assume,” said District 1 Anoka County Commissioner Matt Look. “How your tax amount changes from year to year is
influenced more by the revenues needed to fund local government, including cities and school districts.”
For example, if Anoka County increased all values by 50 percent, the resulting tax amounts would not increase by 50
percent; the tax rates would be adjusted to generate the same amount of tax revenue.
The following example illustrates that same basic concept:
How to challenge valuations
Overall, the work of assessors, which is completed annually before the assessment date of Jan. 2, is very accurate and
reflects market value as of Jan. 2 each year. If you feel your valuation is inaccurate there are options to challenge an
assessment:

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