Olmsted County outlines 2025 commercial revaluation, cites staffing shortfalls and large increases for some property types

Olmsted County property records and licensing staff updated the Board of Commissioners on the 2025 commercial property revaluation at a county board meeting (date not specified), describing statutory requirements, the sales period used for valuations, staffing challenges and large percentage increases in some property categories.

Mary Heft, Director of Property Records and Licensing, and Julie Hackman, Associate Director of Property Records and Licensing and County Assessor, presented the informational item with Deputy County Assessor and Commercial Supervisor Jason McCaslin. Hackman emphasized that assessors must value properties ‘‘at a value that represents what that property would sell for in an open market arm’s length transaction as of January 2 of every year,’’ citing Minnesota statute and Department of Revenue procedures governing the assessment process.

Officials told commissioners the office used sales dated Oct. 1, 2023, through Sept. 30, 2024, to set values for the Jan. 2, 2025 assessment date — values that determine taxes payable in 2026. Hackman explained that Minnesota law requires a physical inspection of each property at least once…