Jenkins, Minnesota Property Taxes
The median property tax rate in Jenkins, MN is 0.59%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Jenkins at $89,250, the typical annual property tax bill amounts to $472, well below the national median of $2,690. Property taxes in Jenkins are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Jenkins'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 Jenkins or another part of Crow Wing County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jenkins, 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 Jenkins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jenkins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jenkins 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 Jenkins, Minnesota
Property taxes in Jenkins, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jenkins is 0.59%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Jenkins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jenkins 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 Jenkins' effective property tax rate to other areas in Crow Wing County and the national median. For comparison, the 56456 zip code has the highest median property tax rate of 0.97%, while the 56474 zip code has the lowest median tax rate of 0.53%. Understanding how these areas compare with Jenkins provides valuable insights into the varying tax landscape across Crow Wing County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jenkins Tax Rate
0.59%
Average Crow Wing County Tax Rate
0.59%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jenkins, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56456 | 0.44% | 0.68% | 0.97% | 1.26% | 1.53% |
| 56474 | 0.18% | 0.42% | 0.53% | 0.64% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Jenkins, Minnesota
In Jenkins, 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 Crow Wing 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 Jenkins, 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. The highest median tax bill in Jenkins is $590 in the 56474 zip code, while the lowest median tax bill is $314 in the 56456 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jenkins Assessed Value
$89,250
Average Crow Wing County Assessed Value
$265,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jenkins, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56456 | $5,320 | $7,000 | $42,600 | $57,400 | $57,520 |
| 56474 | $9,600 | $76,100 | $100,500 | $193,000 | $442,720 |
Source: Ownwell
Property Tax Bills Across Jenkins, Minnesota
In Jenkins, located in Crow Wing 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 Jenkins is $89,250. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile at $220 and the 75th percentile at $812. The 90th percentile tax bill can reach up to $2,023, indicating a wide range in property tax obligations. Several factors are considered when determining the tax bill. The local government assesses the property's value, and then the applicable tax rate is applied. This tax rate is influenced by various local needs, including funding for schools, infrastructure, and public services. For homeowners, this means that higher assessed values or higher local tax rates can lead to higher property tax bills. Comparatively, Jenkins' median tax bill aligns closely with the national median property tax rate of 0.99%, making it a relatively average location for property taxes. Homeowners in Jenkins should be aware of these variables as they can significantly impact their annual financial planning.
Average Jenkins Tax Bill
$472
Average Crow Wing County Tax Bill
$1,562
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Jenkins, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56456 | $97 | $135 | $314 | $472 | $473 |
| 56474 | $64 | $260 | $590 | $878 | $2,094 |
Source: Ownwell