I called our county’s assessor (Hennepin Co.) a few years ago to try to find out why my taxes had increased so much. This was when covid was ramping down. The assessor told me that the VALUE of my property, which includes a house, a detached three car garage and a garden shed, among other factors (+ or -) are based on what comparables in my area are selling for. Other factors may be improvements and condition.
He went on to explain that TAXES are set by politicians and bureaucrats by setting the mil rate levy according to expenses and proposed spending. The mil rate levied is subject to public scrutiny and votes at the next election.
I was at my cabin last summer (St Louis Co.) When the assessor came to my property. She reiterated what the Hennepin Co. assessor had told me. While she took notes of improvements that I had made, she also quizzed me on any condition issues which may lower, or at least limit the amount of any increase in value.
The percent of taxes to the value of both properties are similar.