The Goodhue County Assessor’s Office is responsible for establishing the estimated market value (EMV) and determining classification of property located within Goodhue County. The assessor notifies property owners of the classification, EMV and taxable market value via valuation notices that are mailed to all taxpayers each spring.
Estimating Market Value
Property values change continuously with fluctuating economic conditions. In addition to market changes, numerous physical changes affect the value of land and buildings. All factors are considered in estimating the value of property. This requires physical inspection of all property subject to assessment.
The assessor also determines the classification, or use, of each property. Each classification is taxed at a different percentage of market value. These percentages are set by the state legislature.