The County Assessor is the chief assessment officer in the county. Appointed by the county board, the county assessor is responsible for the assessment and classification of all real estate. Approximately 20,000 parcels are appraised and classified according to its use each year for McLeod County. Currently, the assessor's office has 6 full time personnel to value and classify properties in McLeod County.
Governed by state statue, we view properties quarterly, value yearly (based on market), and classify according to use. All sales information comes to us and we verify all information to guarantee accurancy. We can not use bank sales, foreclosures, or short sales in determing our yearly value. Our current way of market adjustment is to use the previous year sales. For example - the current 2010 value is based on sales occuring between 10/1/2008 and 9/30/2009.
Classification of property is based on what the property is being used for. There are many different types of classification but there are 4 common ones - Residential, Agricultual, Commercial/Industrial, and Apartments. There can be mixed classes on properties as well. It is not uncommon to have residential and commercial on the same parcel.
All types of property are to be viewed quarterly. This helps in keeping our information accurate. Since our values must be between 90 to 100 percent of what it sold for, it is important we have the right information to have accurate numbers to compare the sales to. If we fall below 90%, and have bad information, we may end up raising values that should not be raised. Our office will put pink tags on all doors it visits in a year. A phone call back to help us maintain our accuracy is greatly appreciated.