Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1912-08-01
Equalization by the Tax Commission,

/ Equal'zat'on by the Tax Commission
(Continued)
The manner Of ascertaining the
percentage of assessed to true value
OF real estate by the s'sales method:
was briefly explained in the preceding
article. ....-.
The necessary data or information
for the tabulation of real estate sales
is gathered by representative of the
tax commission. These Representa-.
tives visit each county of the state
and make a list Of all transfers of
real estate made by warranty deed
during a given period, usually two
years. Care is taken to include only
such transactions as represent bona
tide sales, and in which the consider.
alton stated in the deed is the actual
amount for which the property was
sold. Transfers that give only a nomi.
nal consideration, or that include the
exchange OF one piece of property for
another, or transfers between near
relatives, such as father to son, are
not included in the tabulation.
Each transfer listed shows the
name OF the grantor and grantee, the
| date OF the conveyance, the consider
alton, the book and page of record, a
fbrief description of the property, and
the assessed value of each description
as shown by the last preceding as
assessment roll.
The sales are complied and tabu1at.
ed by assessment districts and by
counties. Separate tabulations are
made for city and village property,
and for farm property, showing in
each case the total number of sales.
the aggregate amount for which the
property was sold, the total assessed
value of the same and the percentage
OF assessed to sales value. This per
centage is then applied to all real es-
tate in the district or county and be-
comes the factor by which it's true
value is determined. 49, IL J
Let us take Mower county as an H.
Illustration. The total number of trans
fers used in compiling the real estate
sales in this county for the four year
period ending December 81, 1911, was
1909. Of this number 598 sales COW
cred farm property, and Gil sales city
and village property. The total con-
sideration amounted to $4,7S1, 465, and
the assessed value in 1910 to s1,4O4.-
ST., an average of 1887 per cent of
assessed to sales value The average
assessed value Of the farm property
sold was found to be 1888 per cent,
and of city and village property 1910
per cent. Using these per centages
as the factor the true value of real
estate in Mower county is found to be
s32, 664,032, Of which amount $27,l74,-
I45 is represented in farm property,
and s5,4s9,2S7 in city and village pro-
perty.
The ratio of assessed to sales value
is similarly ascertained in other
counties, and is used as the factor for
determining the true value of real
property in each county OF the state.
These ratios will be applied to the
1912 assessment as equalized by coun-
ty boards of equalization and will in
large measure determine what
changes are necessary to fairly equal
ize the assessment as between the
different counties of the state
1t is the policy OF the tax commits
sion to notify the county auditor Of
any contemplated changes in his
county, with request that he give
the same due publicity. Ample, time
is given any interested person to file
objections, either personally or in
writing, to the proposed changes.
Such objections are fairly and impair
TALLY considered before final action is
taken. z4> a.f. ..~..-.. ....~. -.
While the sales method Of deter.