About Property Tax
As required by Minnesota law, the Olmsted County regularly assesses all property in the county, based on current resale value. The assessed value is then used to determine each individual property's share of the overall property tax.
When county residents receive their property tax bill from Olmsted County they assume the county is responsible for the entire tax due. It is actually more complicated. Rochester and other cities set a budget for their operation. School districts, Townships and other entities also set a budget and all these costs form a significant part of your property tax. Olmsted county collects taxes for cities and others, and distributes tax revenue to cities and others, but has no ability to set or change the portion of tax collected for others.
Olmsted county also sets a budget to fund the county programs and services. The preliminary budget is used to set a maximum levy in September. From that time on, budget changes can be made, but the levy can only remain at the September approved level or be decreased. Increases are not allowed.
In December the final county budget and levy are approved, You then are mailed a tax estimate that includes charges for Olmsted County, city (for city residents), school districts and others. At that time you are allowed to appeal your property's assessed value, and adjustments may be made.