Apple Valley, Minnesota Property Taxes
The median property tax rate in Apple Valley, MN, is 1.02%, slightly higher than the national median of 0.99% but lower than the Minnesota state median of 1.11%. With the median home value in Apple Valley at $207,900, the typical annual property tax bill reaches $2,212, which is below the national median of $2,690. Property taxes in Apple Valley are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Gaining a thorough understanding of Apple Valley'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 Apple Valley 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
Apple Valley, 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 Apple Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Apple Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Apple Valley 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 Dakota County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Apple Valley, Minnesota
Property taxes in Apple Valley, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Apple Valley is 1.02%, which is higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Apple Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Apple Valley 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. Understanding how these rates are determined can help homeowners navigate their property tax obligations more effectively. For comparison, the zip code 55124 has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. This uniformity in rates across Apple Valley provides valuable insights into the tax landscape within Dakota County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Apple Valley Tax Rate
1.02%
Average Dakota County Tax Rate
1.06%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Apple Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55124 | 0.99% | 1.00% | 1.02% | 1.06% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Apple Valley, Minnesota
In Apple Valley, 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 Dakota 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 Apple Valley, 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 Apple Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 55124, with a median tax bill of $2,212.
Property Tax Assessment Values Across Apple Valley, Minnesota
Source: Ownwell
$1,400
$680,200
$1,359,000
Average Apple Valley Assessed Value
$207,900
Average Dakota County Assessed Value
$344,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Apple Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55124 | $200,570 | $203,400 | $207,900 | $258,400 | $268,800 |
Source: Ownwell
Property Tax Bills Across Apple Valley, Minnesota
In Apple Valley, Dakota County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value, resulting in the annual property tax bill. For homeowners in Apple Valley, the median home price is $207,900, and the property tax rate is influenced by both county and local levies. Several factors are considered when determining the tax bill, including the property's market value, any applicable exemptions, and the local tax rate. The tax bill for homeowners can vary significantly, with the 25th percentile paying around $2,058, while those in the 75th percentile pay about $2,644. The 90th percentile sees tax bills as high as $2,801. These property taxes play a crucial role in funding essential public services such as schools, infrastructure, and emergency services. Homeowners in Apple Valley should be aware of these factors as they directly impact their annual financial obligations and the overall affordability of their homes.
Average Apple Valley Tax Bill
$2,212
Average Dakota County Tax Bill
$3,728
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Apple Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55124 | $2,006 | $2,058 | $2,212 | $2,644 | $2,801 |
Source: Ownwell