The Mandan Valuation Department will soon send notices to property owners, informing them that the valuation of their property is going up.
The property assessment is used to calculate the property taxes that homeowners will pay in 2022.
Notices are directed to property owners whose property assessment increases by $3,000 or increases by 10% or more.
The city says ratings are going to owners of about 3,000 parcels, a number the rating service hasn’t seen since 2016.
The State Board of Equalization requires that all state properties be valued at less than 10% of prevailing market values.
Why is the valuation increasing?
Mandan officials say the reasons may include new or additional structures added to the property in the past year, or certain property exemptions for new homes or businesses that have expired.
Another reason is the general increase in the market value of the property due to the sale of comparable properties. For example, the average sale price of a residential property in 2021 in the Bismarck-Mandan area was $282,034, up more than $20,000 from the previous year.
Mandan officials are encouraging property owners receiving notices of increases to review the information and contact the Assessment Department by April 5 to ask questions or initiate a property assessment review by calling 701- 667-3232.
Property owners may finally appeal the assessment increase to the City Equalization Board on Tuesday, April 5 at 7:00 p.m. at Mandan City Hall, 205 Second Ave NW after the City Board meeting.
For more information on the assessment procedures, you can visit cityofmandan.com/assessing. To request a property reassessment or tour, you must call 701-667-3232.