How does the assessor determine the Estimated Market Value?
A mass appraisal process is used for Estimating Market Values. Information from all sales that occur within the county is collected and closely analyzed by the Assessor’s Office. The Assessor’s Office then adjusts market values by comparing properties that sold within a given area with properties that have not sold within that same area.
The City of Brooklyn Park uses a mass appraisal process for estimated market values. This system involves the comparison of thousands of properties with actual market sales from the same neighborhoods. All sales information collected by the assessor’s office is closely analyzed and market values are adjusted by comparing properties that sold with properties that have not sold. This sales comparison provides the basis for the assessor’s estimated market value.
