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Changes in the estimated market values of properties in Pipestone County varied this year, according to information from the Pipestone County Assessor’s Office.
This year’s estimates are based on sales from Oct. 1, 2023 to Sept. 30, 2024. The estimated market values should be within 90 to 105 percent of actual sale prices, according to the Minnesota Department of Revenue, so adjustments must be made to bring properties to within that range. Pipestone County Deputy Assessor Chris McChesney reviewed the adjustments during the annual Pipestone County Board of Appeal and Equalization meeting on June 16.
The meeting provides an opportunity for people who believe the value or classification of their property is incorrect, and were not satisfied at local board of appeal and equalization meetings, to appeal to the county board of appeal and equalization. No residents attended this year’s meeting and McChesney said no changes were made to the estimated market values of any parcels at the meeting.
Overall, McChesney said, later, the majority of parcels in Pipestone County had either no change or a slight decrease to their values for 2025. The value of others, however, did increase.
According to information presented at the meeting, there were 50 residential property sales in the city of Pipestone during the sales period and the average sale price was $184,719. McChesney said the value of many residential parcels in Pipestone remained the same or decreased slightly and the typical increase for those that increased ranged from 6 percent to 18 percent.
In Edgerton, there were 19 residential property sales and the average sale price was $168,868. McChesney said the value of many parcels remained the same or decreased slightly and that the typical increase for that increase was between 6 percent and 18 percent.
In Jasper, there were eight residential property sales and the average sale price was $90,063. McChesney said the value of most parcels increased and the typical increase was between 18 percent and 30 percent.
In the other smaller cities in the county, there were seven residential property sales and the average sale price was $100,771. McChesney said the value of many parcels did not change or decreased slightly and the typical increase for residential properties for which the values increased was between 6 percent and 44 percent.
There were seven rural residential properties sold and the average sale price was $295,843. McChesney said the value of all rural residential parcels increased and the typical increase was between 4 percent and 12 percent.
There were 11 commercial properties sold in the county during the time period and the average sale price was $159,173. The values of some properties decreased slightly and McChesney said a small number of parcels had increased values. The typical increase was between 5 percent and 12 percent for those for which the values increased.
There were 19 sales of agricultural land with an average sale price of $1,098,919. McChesney said the change in the value of agricultural land ranged from a 10 percent decrease to a 10 percent increase. There was no change to pasture land values.