Property Taxes 

The City of Waconia contracts with Carver County to provide property valuation for each property located in the city limits. Property valuations are determined each year by the County Assessor.

Property Taxes in Minnesota
Property taxes are levied by many jurisdictions in the state of Minnesota. The primary recipients of property taxes are the school districts, counties, and cities. Other taxing jurisdictions have minor levies to fund the Metropolitan Council, various watershed districts, and some other municipal functions.

Taxes are levied on 2 different bases: tax capacity (TC) and estimated market value (EMV). Estimated market value is the easier of the concepts to understand. It is merely the total Assessor’s market value for each taxable piece of property in a jurisdiction. For EMV tax levies, every property pays at the same rate based on property value.

Tax Capacity
The tax capacity is calculated by taking the EMV and multiplying it by a statutory formula based on the classification of the property and its value. The categories are numerous, but the primary ones are agricultural, homesteaded residential, non-homesteaded residential, apartments, and commercial-industrial.

Each of the categories has a different percentage rate that generally increases in the order presented. All of these calculated values are then totaled and the tax levy is determined by dividing the total tax levy by the total tax capacity. Each property is then taxed a proportional share based on their tax capacity. The effect of this tax basis is that apartments and commercial-industrial properties shoulder a greater property tax burden than a straight%age of their value would indicate.

Related Resources
To view your tax bill and assessed property valuation, you may visit the Carver County website.