Moorhead, Minnesota Property Taxes
The median property tax rate in Moorhead, MN is 1.42%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Moorhead at $228,300, the typical annual property tax bill reaches $3,234, exceeding the national median of $2,690. Property taxes in Moorhead are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Moorhead'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 Moorhead or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moorhead, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Moorhead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moorhead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moorhead 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 Moorhead, Minnesota
Property taxes in Moorhead, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moorhead is 1.42%, which is higher than the U.S. national median of 0.99%. Local government entities within Moorhead set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moorhead 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 Moorhead's effective property tax rate to other areas in Clay County and the national median. For comparison, the 56560 zip code has the highest median property tax rate of 1.42%, while the 56561 zip code has the lowest median tax rate of 0.43%. Understanding how these areas compare with Moorhead provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moorhead Tax Rate
1.42%
Average Clay County Tax Rate
1.36%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moorhead, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56560 | 1.11% | 1.34% | 1.42% | 1.52% | 1.87% |
| 56561 | 0.43% | 0.43% | 0.43% | 0.43% | 0.43% |
Source: Ownwell
Property Tax Assessment Values Across Moorhead, Minnesota
In Moorhead, 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 Clay 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. Assessment notices in Moorhead 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 Moorhead helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Moorhead is $4,836 in zip code 56561, while the lowest is $3,234 in zip code 56560.
Average Moorhead Assessed Value
$228,300
Average Clay County Assessed Value
$240,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moorhead, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56560 | $145,600 | $182,900 | $228,300 | $301,000 | $403,800 |
| 56561 | $1,134,200 | $1,134,200 | $1,134,200 | $1,134,200 | $1,134,200 |
Source: Ownwell
Property Tax Bills Across Moorhead, Minnesota
In Moorhead, located in Clay County, MN, property tax bills are calculated based on the assessed value of a home. The local assessor determines this value by evaluating the property's market conditions, size, and features. Once the assessed value is established, local tax rates, which can vary by district and purpose, are applied. For example, with a median home price of $228,300 in Moorhead, property tax bills can range significantly. Homeowners might see tax bills as low as $2,490 at the 25th percentile, while those at the 75th percentile pay around $4,411. In some cases, tax bills can reach up to $6,008 at the 90th percentile. Comparatively, the national median property tax rate is 0.99%, indicating that Moorhead's property tax rates are relatively high. This can impact homeowners by increasing their annual housing costs, potentially affecting affordability and financial planning. The highest median tax bill in the area is $4,836 in the 56561 zip code, while the lowest is $3,234 in the 56560 zip code, showcasing the variability within the city.
Average Moorhead Tax Bill
$3,234
Average Clay County Tax Bill
$3,042
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Moorhead, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56560 | $1,828 | $2,490 | $3,234 | $4,410 | $6,008 |
| 56561 | $4,836 | $4,836 | $4,836 | $4,836 | $4,836 |
Source: Ownwell