The Office of the Assessor is responsible for discovering, listing, and valuing all taxable property, both real and personal, for ad valorem tax purposes. The assessment date is January 2 of each year and the assessor determines a full or partial value of new construction, or improvements depending upon the state of completion as of that date. Annual sales studies are used to analyze market conditions to determine how the Assessor's estimated market value compares to actual property sales. The Minnesota Department of Revenue requires the Assessor's estimated market value to fall within a range of 90% to 105% of actual market value. Green Acres Green Acres is a state program for valuing agricultural lands in an effort to preserve the state's farming heritage. It is administered by the Rice County Assessor's Office. The Green Acres Addendum Form (PDF) must accompany the Green Acres Application (PDF).