Market Increase Leads to Property Valuation Increases

March 1, 2022 - The City of Mandan Assessing Department will soon mail notices to property owners with a 2022 real estate valuation increase of $3,000 and 10% or more. Notices are being sent to owners of approximately 3,000 parcels, a quantity the Assessing Department hasn’t seen since 2016.

The State Board of Equalization requires all property be valued within 10% of prevailing market values. Frequent reasons for notices of increased value include property with a new or additional structure in the last year and situations involving expiration of an exemption, such as for new homes or businesses. Values may also change in 2022 as a result of rising market value due to sales of comparable property occurring in 2021. According to the Bismarck Mandan Board of Realtors, the average sale price of residential property in 2021 was $282,034, up from $261,930 the year prior.

City officials encourage property owners receiving notices of increase to review the information and contact the Assessing Department prior to April 5 with questions or to initiate a review of the property valuation by calling 701-667-3232. Owners may ultimately appeal the valuation to the City Board of Equalization on Tuesday, April 5 at 7 p.m. at Mandan City Hall, 205 Second Ave NW following the Commission meeting. Individuals who did not receive a notice are able to obtain the value of properties for 2022 by calling the Assessing Department.

Mandan’s actions with regard to 2022 property values are forwarded to the Morton County Board of Equalization which will meet June 9 at 6 p.m. at the Morton County Courthouse, 210 Second Ave NW.

For more information about assessing procedures, visit cityofmandan.com/assessing. To request a reassessment of a property or a walk-through, please call 701-667-3232.