Minnetonka's property investors can breathe easy – for now. In a city where stability has been the name of the game, the latest figures from Minnetonka's assessing division show a real estate market that's as steady as they come. Median home values have edged up to $502,200, with single-family homes witnessing a modest 0.8 percent hike and townhouses up 1.3 percent. But it's not all roses: connoisseurs of loft living might need to tighten their belts, as condominiums and apartments dipped by 0.3 percent and 3 percent respectively, while commercial properties also saw a slight 0.7 percent drop.

The city bases its market values on a carefully calibrated mix of real estate deals involving similar properties over the past year. Always looking to stay accurate, the city's assessors also make routine house calls, inspecting at least one in five properties annually. They don't just look at the numbers - additions, renovations, and improvements all factor into their assessments. But not everyone will see eye-to-eye with the city's valuation, and if that's you, the city's lines are open – until March 29, as reported by the City of Minnetonka.

If your property tax bill gives you sticker shock, take heart: Minnesota's got your back with refund programs for homeowners feeling the pinch. A regular property tax refund might be in the cards if your household's yearly earnings fell short of $135,410 in 2023. And if your property tax shot up by over 12 percent, a special refund might just lighten your load. Eligibility criteria apply, of course, and details are a click away at the state revenue website. In the mix are sweeteners like property tax deferral for seniors and counseling to avert foreclosure.

Homeowners, keep an eye on the mailbox this month. It's not just your favorite magazines coming through: tax notices are on their way. The city, which claims a 29 percent slice of the property tax pie, will send out a market valuation notice to lay the groundwork for taxes due in 2025, according to the  City of Minnetonka.