What is “Tax Capacity Value?
Tax Capacity Value is determined by multiplying the market value of the property by the statutory percentage rates (also called class rates) for the specific classification(s)/use(s) on the property. Minnesota has many class rates and those rates can be changed only by the State Legislature. Call the Assessing Department for a list of the current class rates.
“Tax Capacity Value” is determined by multiplying the market value of the property by the statutory percentage rates (also called class rates) for the specific classification(s)/use(s) on the property. Minnesota has many class rates and those rates can be changed only by the State Legislature. Call Anoka County Property Records and Taxation Division for a list of the current class rates. For example: the class rate for homestead property is significantly less than the class rate for commercial or industrial property. The classification of a parcel determines what percentages are to be used to determine the total tax capacity of each parcel in Anoka County.
