De Graff, Minnesota Property Taxes
The median property tax rate in De Graff, MN is 0.80%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $155,700 in De Graff, the typical annual property tax bill amounts to $1,652, falling below the national median of $2,690. Property taxes in De Graff are determined based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of De Graff's property tax system, exploring available exemptions, and seeking opportunities for reductions can result in substantial annual savings. Whether you're residing in De Graff or investing in property there, familiarizing yourself with the local property tax regulations will be advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
De Graff, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,246
Ownwell’s De Graff Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in De Graff with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in De Graff 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 De Graff, Minnesota
Property taxes in De Graff, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in De Graff is 0.80%, which is lower than both the Minnesota state median of 1.05% and the U.S. national median of 0.99%. Local government entities within De Graff set these rates annually, and they can vary significantly across different neighborhoods. Each year, De Graff 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 De Graff's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56271 zip code has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with De Graff provides valuable insights into the varying tax landscape across Chippewa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average De Graff Tax Rate
0.80%
Average Chippewa County Tax Rate
1.23%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across De Graff, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56271 | 0.71% | 0.72% | 0.80% | 0.89% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across De Graff, Minnesota
In DE GRAFF, 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 Chippewa 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 DE GRAFF, 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 DE GRAFF helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1652.00, found in zip code 56271.
Average De Graff Assessed Value
$155,700
Average Chippewa County Assessed Value
$136,650
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across De Graff, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56271 | $84,100 | $121,450 | $155,700 | $252,425 | $314,030 |
Source: Ownwell
Property Tax Bills Across De Graff, Minnesota
In De Graff, located in Chippewa County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in De Graff is $155,700, which serves as a benchmark for determining individual tax obligations. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property location, size, and market conditions play a significant role in determining the assessed value. Homeowners in De Graff can expect their tax bills to vary widely, with the 25th percentile at $1,023 and the 75th percentile at $2,294. The 90th percentile tax bill reaches up to $2,383. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life. While the national median property tax rate is 0.99%, the specific rates and bills in De Graff reflect local economic conditions and public service needs.
Average De Graff Tax Bill
$1,652
Average Chippewa County Tax Bill
$1,622
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across De Graff, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56271 | $673 | $1,023 | $1,652 | $2,294 | $2,383 |
Source: Ownwell