Laporte, Minnesota Property Taxes
The median property tax rate in Laporte, MN is 0.54%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Laporte, the typical annual property tax bill amounts to $1,380, which is well below the national median of $2,690. Property taxes in Laporte 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 Laporte's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Laporte or another part of Cass County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Laporte, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$1,376
Ownwell’s LaPorte Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LaPorte with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LaPorte 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 Laporte, Minnesota
Property taxes in Laporte, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laporte is 0.54%, lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Laporte set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laporte 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 Laporte's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56461 zip code has the highest median property tax rate of 0.54%, while the same zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Laporte provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laporte Tax Rate
0.54%
Average Cass County Tax Rate
0.53%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laporte, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56461 | 0.41% | 0.43% | 0.54% | 0.82% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Laporte, Minnesota
In Laporte, 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 local 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 Laporte, 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 Laporte helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 56461 has both the highest and lowest median tax bill at $1380.
Average Laporte Assessed Value
$254,800
Average Cass County Assessed Value
$248,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laporte, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56461 | $79,900 | $167,250 | $254,800 | $327,150 | $487,420 |
Source: Ownwell
Property Tax Bills Across Laporte, Minnesota
In Laporte, Cass County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Various factors such as property size, location, and market conditions influence this valuation. Homeowners in Laporte can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile of tax bills in the area is $732, while the 75th percentile reaches $1,914. At the higher end, the 90th percentile sees tax bills of up to $3,574. The highest median tax bill recorded in the region is $1,380, which is consistent across different zip codes within the county. These property taxes fund essential local services such as schools, public safety, and infrastructure. Although the tax rates in Laporte may seem substantial, they are a crucial investment in maintaining and improving community resources, directly impacting homeowners' quality of life.
Average Laporte Tax Bill
$1,380
Average Cass County Tax Bill
$1,350
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Laporte, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56461 | $332 | $732 | $1,380 | $1,914 | $3,574 |
Source: Ownwell