Assessor reports local board reduced appealed values; overall city tax base change within statutory limits

Director Malmquist presented the results of the 2026 Local Board of Appeal and Equalization and recommended filing the related report.

Key figures Malmquist presented: staff mailed roughly 125,000 valuation notices and received 1,564 inquiries, of which about 1,253 were resolved at the staff level. The local board heard 311 appeals: 166 resulted in reductions and 145 were sustained. "Of the 311 appeals heard by the board, the market value was originally $334,500,000 and was reduced to $320,800,000," Malmquist said, which he described as a 4.09% decrease among those appealed values. He emphasized the board's reductions left the overall city market value change well within the statutory 1% limit that would otherwise void board action.

Malquist described recruitment and procedural improvements for the board and noted the next step for property owners who disagree is to appeal to the county board or Minnesota State Tax Court; as of late the assessor's office reported 41 Minneapolis cases registered at the county level with varied outcomes (some canceled, some reconciled, others proceeding).

Chair Palmisano moved to file the report and the committee approved the measure.

Why it matters: The local board process is a statutory oversight measure that gives property owners a formal review of assessments; reductions on appealed properties can affect individual taxes and may proceed to higher appeal bodies if contested.

Sources: Testimony by Director Malmquist and committee action recorded during the meeting.