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City explains July notices updating property assessments to 100% of fair market value
Summary
City staff told the council that property assessment notices are being mailed to reflect an interim market update to 100% of fair market value as of Jan. 1, 2025, and outlined options for residents who disagree with their assessed value.
City Administrator Scott briefed the River Falls City Council on July 8 about an interim market update of property assessments. The update adjusts values to an estimated 100% of fair market value as of Jan. 1, 2025, and assessment notices will be mailed to property owners.
Scott said the notices include contact information and options for property owners to raise informal and formal questions with the assessing company or city staff. He advised residents to compare the notice to market information; if the assessed value is within about 10% of what owners believe the market value was on Jan. 1, 2025, the assessor’s estimate is likely correct. If residents believe the value is inaccurate they can contact the third‑party assessor or city hall for assistance.
A councilmember noted some residents in St. Croix County had not yet received notices; Scott said notices are batched and should arrive that week. The city did not announce any deadline for appeals during the meeting; residents were directed to the contact information on the back of the notice and to city hall for help looking up their assessment records.
