Audubon, Minnesota Property Taxes
The median property tax rate in Audubon, MN is 0.68%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $331,600 in Audubon, the typical annual property tax bill is $2,304, which is below the national median of $2,690. Property taxes in Audubon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Audubon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Audubon or another part of Becker County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Audubon, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$2,255
Ownwell’s AUDUBON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in AUDUBON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in AUDUBON to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Audubon, Minnesota
Property taxes in Audubon, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Audubon is 0.68%, which is lower than both the Minnesota state median of 1.07% and the U.S. national median of 0.99%. Local government entities within Audubon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Audubon estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Audubon's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56511 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Audubon provides valuable insights into the varying tax landscape across Becker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Audubon Tax Rate
0.68%
Average Becker County Tax Rate
0.72%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Audubon, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56511 | 0.59% | 0.64% | 0.68% | 0.72% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Audubon, Minnesota
In Audubon, Minnesota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Becker County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Audubon, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Audubon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Audubon is 56511, with a median tax bill of $2,304.
Average Audubon Assessed Value
$331,600
Average Becker County Assessed Value
$241,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Audubon, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56511 | $45,420 | $154,100 | $331,600 | $539,550 | $730,720 |
Source: Ownwell
Property Tax Bills Across Audubon, Minnesota
In Audubon, Becker County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Audubon, the median home price stands at $331,600. The property tax rate in this region is notably higher than the national median property tax rate of 0.99%. Homeowners in Audubon can expect a wide range of tax bills. For instance, those in the 25th percentile pay around $1,200 annually, while those in the 75th percentile face a tax bill of approximately $3,644. The top 10% of homeowners might see tax bills as high as $5,163. The highest and lowest median tax bills in the area both stand at $2,304, indicating a level of consistency in property tax assessments within the 56511 zip code. These property taxes significantly impact homeowners, influencing both their monthly expenses and long-term financial planning.
Average Audubon Tax Bill
$2,304
Average Becker County Tax Bill
$1,854
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Audubon, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56511 | $352 | $1,200 | $2,304 | $3,644 | $5,163 |
Source: Ownwell