Mantorville, Minnesota Property Taxes
The median property tax rate in Mantorville, MN is 1.04%, 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 Mantorville at $412,500, the typical annual property tax bill reaches $4,260, surpassing the national median of $2,690. Property taxes in Mantorville are calculated based on the assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Mantorville'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 Mantorville or another part of Dodge County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mantorville, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$4,290
Ownwell’s Mantorville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mantorville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mantorville 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 Mantorville, Minnesota
Property taxes in Mantorville, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mantorville is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Mantorville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mantorville 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 Mantorville's effective property tax rate to other areas in Dodge County and the national median. For comparison, the 55955 zip code has the highest median property tax rate of 1.04%, while the same zip code has the lowest median tax rate of 1.04%. Understanding how these cities compare with Mantorville provides valuable insights into the varying tax landscape across Dodge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mantorville Tax Rate
1.04%
Average Dodge County Tax Rate
1.28%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mantorville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55955 | 0.77% | 0.94% | 1.04% | 1.19% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Mantorville, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mantorville, MN. 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 Dodge 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 Mantorville, 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 Mantorville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 55955 has both the highest and lowest median tax bill at $4,260.
Average Mantorville Assessed Value
$412,500
Average Dodge County Assessed Value
$291,650
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mantorville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55955 | $203,920 | $273,700 | $412,500 | $514,450 | $617,720 |
Source: Ownwell
Property Tax Bills Across Mantorville, Minnesota
In Mantorville, located in Dodge County, MN, property tax bills are calculated based on the assessed value of a home. The local tax assessor determines this value, which is then multiplied by the local tax rate to arrive at the annual property tax bill. The median home price in Mantorville is $412,500, and tax bills can vary significantly across different percentiles. For instance, homeowners at the 25th percentile pay around $2,972, while those at the 75th percentile face a tax bill of approximately $5,243. At the 90th percentile, the tax bill can reach up to $6,380. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Mantorville's rates can be seen as relatively high, impacting homeowners by increasing the overall cost of homeownership. This financial burden can affect decisions related to property investments and long-term residency.
Average Mantorville Tax Bill
$4,260
Average Dodge County Tax Bill
$3,286
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Mantorville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55955 | $2,096 | $2,972 | $4,260 | $5,243 | $6,380 |
Source: Ownwell