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Minnetonka assessor reports $14.56 billion estimated market value for 2026; median home value rises
Summary
City Assessor Melanie Puttz presented Minnetonka's 2026 assessment report showing an estimated market value of about $14.56 billion (a roughly $700 million, ~5.2% increase), residential growth led by single-family homes, and instructions for value-appeal deadlines and procedures.
City Assessor Melanie Puttz presented the City of Minnetonka's 2026 assessment report to the council March 9, summarizing the revaluation process, sales-study window and the key valuation results.
Puttz said the city's total estimated market value for 2026 is about $14.56 billion, an increase of approximately $700 million (roughly 5.2%) from last year. Single-family residential value showed the largest growth among common categories, rising about 6.6%; lakeshore properties rose about 10.2%. Apartment valuations rose about 5.3% while the combined commercial and industrial sector showed modest net change.
The assessor also reviewed appeal steps: property owners who receive a value notice should first contact assessing staff; formal applications to appear before the local board of appeal and equalization must be submitted by April 3; the local board will meet April 13 and reconvene April 27; April 30, 2027 is the last day to petition Tax Court for appeals related to last year's values; the Hennepin County Board of Appeal meets June 15.
Council action: Council voted to accept the report after brief discussion about larger commercial cases that drove an increase in appealed values.
Why it matters: Assessment results form the base for next year's property tax bills and guide the council's budget planning. Property owners who disagree with their value notice were reminded of the sequence of appeal options and deadlines.
