Hitterdal, Minnesota Property Taxes
The median property tax rate in Hitterdal, MN is 0.94%, slightly lower than the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Hitterdal being $199,300, the typical annual property tax bill reaches $1,730, which is below the national median of $2,690. Property taxes in Hitterdal are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hitterdal'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 Hitterdal 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
Hitterdal, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,873
Ownwell’s Hitterdal Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hitterdal with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hitterdal 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 Becker County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hitterdal, Minnesota
Property taxes in Hitterdal, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hitterdal is 1.09%, higher than both the Minnesota state median of 1.02% and the U.S. national median of 0.99%. Local government entities within Hitterdal set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hitterdal 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 Hitterdal's effective property tax rate to other counties in Minnesota and the national median. For comparison, the highest median property tax rate in the region is 1.09%, while the lowest median tax rate is also 1.09%. Understanding how these cities compare with Hitterdal 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 Hitterdal Tax Rate
0.94%
Average Becker County Tax Rate
0.72%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hitterdal, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56552 | 0.34% | 0.80% | 0.94% | 0.97% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Hitterdal, Minnesota
In Hitterdal, 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 Hitterdal, 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 Hitterdal helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, zip code 56552 in Hitterdal has a median tax bill of $1,730, which is the highest and lowest in the area. The median home price in Hitterdal is $199,300, with tax bills ranging from $1,350 at the 25th percentile to $3,225 at the 90th percentile.
Average Hitterdal Assessed Value
$199,300
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 Hitterdal, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56552 | $113,400 | $144,900 | $199,300 | $378,050 | $727,620 |
Source: Ownwell
Property Tax Bills Across Hitterdal, Minnesota
In Hitterdal, Becker County, MN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Several factors influence the assessed value, including the property's size, location, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $199,300 in Hitterdal, the property tax bill can vary significantly. Homeowners in the 25th percentile might pay around $1,350 annually, while those in the 75th percentile could see bills as high as $1,967. At the 90th percentile, property tax bills can climb to $3,225. The highest and lowest median tax bills in the 56552 zip code both stand at $1,730, reflecting the uniformity in tax assessments within the area. Compared to the national median property tax rate of 0.99%, Hitterdal's property tax rates can significantly impact homeowners, influencing their financial planning and homeownership costs.
Average Hitterdal Tax Bill
$1,730
Average Becker County Tax Bill
$1,854
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Hitterdal, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56552 | $1,086 | $1,350 | $1,730 | $1,967 | $3,225 |
Source: Ownwell