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Property Records & Taxation
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Glossary of Terms
Click on a term to see its definition.
- Abstract
- A condensed history of the title to land, consisting of a summary of all
conveyances which affect the land, together with a statement of all liens,
charges, or liabilities to which the land may be subject.
- Abstract Property
- A term describing property, which still has an abstract, that is, has
not been torrensed (see Torrens Property).
- Abstract of Title
- A condensed history of the title to land, consisting of a synopsis or
summary of the material or operative portion of all the conveyances on the
affected land.
- Account Number
- The account number noted in the property information search, is the 12
digit pin number on your property tax statement.
- Affidavit of purchaser
- A statement made by a grantee (the purchaser of property) or someone on
his/her behalf, which sets forth the name, age, and residence of the grantee,
and whether the grantee is or is not under legal disability, whether or not
he/she is married, and, if married, the name of the spouse
- Affidavit of survivorship
- A statement made by the remaining owner or owners of property which is
held in joint tenancy following the death of another owner or owners indicating
that title to the property now passes to him/her/them by right of survivorship
- Agriculture/conservation fee
- A State tax of $5.00 payable upon the filing of every mortgage and every
deed
- Alternate Taxpayer
- A legal entity, usually a secondary party who has a vested interest in
a property, which is responsible for the payment of property taxes
- Appeal
- The process utilized by a property owner to contest an assessment, formally
or informally, in Minnesota. It involves a review that may take place with
the assessor, at the scheduled boards of review and equalization, or in tax
court.
- Appraisal
- The act or process of estimating value. The resulting opinion of value
for a property is made as of a specified date and supported by the presentation
and analysis of relevant data.
- Attested copy
- -
- Building Value
- This value estimate includes structures, buildings, and any appurtenances
(anything which has been added or appended to a property and becomes an inherent
part of the property) that are not considered land.
- Certified copy
- An exact copy of a recorded document stamped and sealed by a deputy certifying
that it is an exact copy.
- Combinations
- Property owners can combine two or more parcels of land into one parcel
provided they are all in the same taxing jurisdiction, not divided by a road,
and have no delinquent taxes. The property must have the same fee owner. A
combination can be done without the approval of the city.
- Contributory Value
- The dollar amount that an improvement adds to the market value of a property
based upon its building replacement cost new less accrued depreciation.
- Date Due
- The final date that the amount due can be paid before late fees begin
to incur.
- Deed
- A document conveying or transferring title to or ownership of real property
from one owner to another (There are many different types of deeds.)
- Deferred
- Payment postponed until a future time, by resolution of a taxing authority.
- Divisions
- Landowners can sub-divide their property into as many parcels of land
the city will allow. This can only be done providing the City in which the
land is located approves it, and is done without the formal process of platting.
- Easement
- A right of use over the property of another
- Estimated Market Value
- This value is what the assessor estimates your property would likely sell
for on the open market. State law requires assessors to value property at
100 percent of market value.
- Equalization
- The process undertaken by different government bodies to ensure that all
property under its jurisdiction is equitably assessed in terms of uniformity
and consistency.
- Form M-1PR
- A property tax refund application that may be submitted by qualifying
homeowners, renters, and mobile/manufactured homeowners to the Department
of Revenue for processing. This form permits applicants to seek property tax
relief through a state refund program that is designed to assist people---based
on their total tax and household income and/or people who have experienced
a tax increase that is at least $100 and more than 12 percent over last year's
tax. For more information on this property tax refund program, call the Minnesota
Department of Revenue at 651-296-4444.
- Green Acres
- Only applies to agricultural property that is facing increasing values
due to development pressures not related to the agricultural value of the
land. The assessor arrives at this lower value by looking at what comparable
agricultural land is selling for in areas where there is not development pressure.
The taxes on the higher value are deferred until the property is sold or no
longer qualifies for the program
- Government Lots
- Irregularly shaped parcels of land, usually fronting on water, which could
not be divided practically into sections under the government survey.
- Government Survey
- The survey from which our present system of townships, sections, etc.,
was developed.
- Homestead
- For property tax purposes, this classification is a tax benefit granted
to property owners or qualifying relatives who are Minnesota residents and
who own and occupy their homes as their primary places of residence.
- Joint Tenancy
- An estate in fee simple, fee tail, for life, for years, or at will, arising
by purchase or grant to two or more persons. Joint tenants have one and the
same interest, accruing by one and the same conveyance, commencing at one
and the same time, held by one and the same undivided possession. The primary
incident of joint tenancy is survivorship, by which by the entire tenancy
on the decease of any joint tenant remains to the survivors, and at length
to the last survivor.
- Land Value
- This value estimate includes the earth's surface, both land and water,
and anything associated with the surface like capital improvements (i.e. water,
sewer, curb, and gutter), natural resources in their original state (i.e.
mineral deposits, wildlife, timber, fish), and energy sources, outside of
man himself (i.e. water, coal deposits, and the natural fertility of the soil).
- Legal Description
- This may be an abbreviated method of geographically identifying a parcel
of land for tax purposes. The county recorder maintains the recorded legal
description, which is acceptable in a court of law.
- Lien
- A claim or interest in land created by a written instrument providing
security for the performance of a duty or the payment of a debt (There are
many types of liens.)
- Life Estate
- The legal right, created by a formally recorded document, of a person
to have the use of a property for the duration of his/her life
- Limited Market Value
- Limits how much the taxable value of certain properties can increase.
With the exception of new improvements, the value is limited to the greater
of: 1) 15 percent increase over last year's limited value or 2) 25 percent
of the difference between this year's estimated value and last year's limited
value. This only applies to agricultural, residential, timberland, or noncommercial
seasonal recreational residential (cabin) property.
- Mass Appraisal
- The process of valuing a large group of properties as of a given date
conducted in uniform order, using standard methodology, common reference data,
and statistical testing. Assessors use this systematic appraisal application
to estimate market value for tax purposes.
- Machinery Value
- This value estimate includes moveable items, fixtures, equipment, and
assembled parts that are subject to taxation. (i.e. state assessed utility
systems)
- Metes and Bounds
- A way of describing land by listing the compass directions and distances
of the boundaries; used in describing land that has not been platted (See
"subdivision.")
- Mobile/Manufactured Home
- A structure that is transportable in one or more sections which is a complete
livable dwelling unit equipped with wheels so that it may be towed from place
to place by a truck, depending on its size and highway regulations. This property
type is considered to be personal property when it is sited on land that is
leased. It is considered to be real property when it is affixed to the land
that is owned by the owner of the mobile home, by a permanent foundation,
or in a manner comparable to other real property.
- Mortgage
- A lien against property created in a repayment agreement which uses the
property as collateral for a loan
- Mortgage Registration Tax
- A state tax paid upon filing of a mortgage; the amount is equal to .23%
of the value of the loan
- New Improvements
- This value represents the assessor's estimate of market value attributable
to improvements that have been made to the property in the last twelve months
prior to the assessment date of January 2nd. The value of the new improvements
is not eligible for limited market value.
- Notary/Notary Public
- An individual commissioned by the State with the authority to acknowledge
the signatures of individuals; notaries take no responsibility for the statements
made by the signer or the contents of the documents signed
- Parcel
- A term used to refer to a piece of property described under a single legal
description; separately owned either publicly or privately.
- Parcel Number (PIN)
- A unique number used as the identifier of each parcel. It is sometimes
referred to as the parcel identification number (PIN).
- Plat
- A map of a town, section, or subdivision showing the location and boundaries
of individual parcels of land subdivided into lots, with streets, alleys,
easements, etc., usually drawn to a scale. Once a plat map has been set, legal
descriptions are defined by referring to the given map, in a lot and block
description.
- Plat Deferment
- For land that has been recently platted (divided into individual lots)
but not yet improved with a structure, the increased market value due to platting
is added over a phase-in period. If construction begins before the expiration
of the phase-in period, the lot will be assessed at full market value in the
next assessment.
- Personal Property
- Generally, moveable items; that is, those not permanently affixed to and
a part or real estate. For tax purposes, these items are not subject to taxation
and are commonly known as furniture, fixtures, or equipment. In terms of a
property type, this classification pertains to certain state assessed utilities
and all buildings/improvements situated on railroad or leased public land,
which are not owned by the railroad company or the government.
- Primary Taxpayer
- A legal entity, usually the property owner, ultimately responsible for
the payment of property taxes.
- Property Address
- A unique description used to identify the place or location of a property.
It is sometimes referred to as the site address or civil address.
- Property Tax
- In general, a tax levied on any kind of property; that is, real, personal,
or a mobile/manufactured home. The amount of the tax is dependent on the value
and property tax classification of the property.
- Property Classification
- The statutory classification that has been assigned to your property based
upon your use of the property. A change in classification of your property
can have a significant impact on the real estate tax payable.
- Property Tax Levy
- It is the total revenue (part of a unit of government's budget) which
is to be taken in through the collection of a property tax.
- Property Type
- A word used to specify a parcel and its associated valuation records,
special assessments, etc. that are common to one unique parcel number. (i.e.
real property, personal property, and mobile/manufactured home)
- Real Property
- This property type refers to the interests, benefits, and rights inherent
in the ownership of the physical real estate. It is synonymous with the term
real estate---the physical land and appurtenances (something that has been
added or appended to a property and becomes an inherent part of the property),
including structures affixed thereto.
- Satisfaction/Release of Mortgage
- A document issued by the holder of a mortgage certifying that the loan
has been repaid; if no such document is recorded, the mortgage continues to
appear as a lien against the property
- Special Assessment
- A tax levied by a local government on private property to pay the cost
of local public improvements, such as street paving or water and sewer, that
are of general benefit to the property taxed; funds are collected by the County
with other property taxes and turned over to the local authority
- Special Assessment Balance Due
- Principal amount due to pay off the assessment in full.
- State Deed Tax
- A state tax paid upon filing of a deed; the amount is equal to .33% of
the sale price of the property
- Subdivision
- A tract of land which has been given a unique name and divided into building
lots
- Survey
- A map or plan or description resulting from the determination of the exact
form, boundaries, contents, quantity, position, etc. of a tract of land by
linear and angular measurements
- Tax Capacity
- The taxable market value (or the market value if there are no reductions
and limitations) of a property multiplied by its property tax classification
rate percentage. (i.e. a residential homestead valued at $150,000 x 1% = $1500).
- Tax Roll
- The official list of each taxpayer subject to a property tax, together
with the amount of the assessment and the amount of taxes due. It is also
known as the tax book that lists the names of the owners or those taxpayers
that receive the tax statement.
- Taxable Market Value
- This is the value that your property taxes are actually based on, after
all reductions, limitations, exemptions and deferrals. Your 2003 value, along
with the class rate and the budgets of your local government, will determine
how much you will pay in taxes.
- Taxes
- A mandatory contribution of money collected by the government, according
to law, for the general support of the government and for the maintenance
of public services, whether federal, state, or local.
- Tenancy in Common
- A form of ownership in which each tenant holds an undivided part interest
in the property; an owner's interest does not terminate upon his death, but
passes instead to his heirs rather than to the other owner(s).
- This Old House Exclusion
- Applies only to homestead property 45 years of age or older and valued
at less than $400,000. Improvements that increase the estimated market value
by $5,000 or more may have some of the value exempted. Only improvements made
before Jan. 2, 2003, and assessed during the 2003 assessment will qualify
for this exclusion.
- Torrens Property
- The term that describes property for which a certificate of ownership
has been issued by order of a court; once a property has been put into the
Torrens registration system, it will no longer have an abstract, and the record
of ownership begins with the current owner.
- Truth in Taxation notice
- A notice mailed to property owners in November showing what the assessed
value of the property will be for the following year and giving a preliminary
estimate of the property tax amount for the following year. The amount is
based on preliminary levies submitted by Anoka County, your city or township,
your school district, and other taxing authorities. Dates and times are given
for upcoming public meetings with all those bodies at which objections to
the levy amounts may be expressed. This notice does not include amounts for
waste management fees, special assessments, or school district referenda subsequently
approved.
- Valuation
- The process of appraising, of making estimates of the value of something.
The value estimated for mass appraisal purposes is market value.
- Value
- It is the monetary worth of something; the estimate sought in a valuation.
Buyers and sellers in the market create value. The assessor studies the market
and collects information about properties to estimate value.
- Waste Management Fee
- A charge levied against all improved County properties, revenues from
which are used to protect our public health, land, air and water through
waste-to-energy conversion, extensive recycling efforts, household
hazardous waste collection, yard waste composting, public information and
waste reduction.
page last updated -
02/16/2007
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