November 27, 2012 / 4:41 PM / in 5 years

TEXT-S&P works with Minnesota to develop economic market value

Nov 27 - Standard & Poor's Ratings Services said today that it has worked
with the Minnesota Department of Revenue to develop a new figure to be called
"economic market value" and used in total market value and market value per
capita calculations. 

"The new figure represents an effort to capture the true market value of 
homesteads in Minnesota in our market value per capita calculations," said 
Standard & Poor's credit analyst Katilyn Pulcher. "It will improve the 
comparability of local economies in Minnesota with those in other states."

Following the implementation of the homestead market value exclusion in the 
state in 2012, a market value measure that accurately captures the wealth in a 
municipality did not exist. Economic market value will be calculated as the 
estimated market value, an existing measure established by county assessors, 
adjusted for the difference between estimated market value and sale price.

For the complete commentary, see "Economic Market Value Creates Level Playing 
Field In Minnesota," published earlier today.


The report is available to subscribers of RatingsDirect on the Global Credit 
Portal at www.globalcreditportal.com. If you are not a RatingsDirect 
subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 
or sending an e-mail to research_request@standardandpoors.com. Ratings 
information can also be found on Standard & Poor's public Web site by using 
the Ratings search box located in the left column at www.standardandpoors.com.
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