Emmons, Minnesota Property Taxes
The median property tax rate in Emmons, MN is 1.20%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Emmons, the typical annual property tax bill reaches $1,534, exceeding the national median of $2,690. Property taxes in Emmons 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 Emmons'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 Emmons 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
Emmons, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,701
Ownwell’s Emmons Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Emmons with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Emmons 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 Emmons, Minnesota
Property taxes in Emmons, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emmons is 1.20%, significantly higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Emmons set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emmons 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 Emmons' effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56029 zip code has the same median property tax rate of 1.20%. Understanding how these cities compare with Emmons provides valuable insights into the varying tax landscape across Freeborn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emmons Tax Rate
1.20%
Average Freeborn County Tax Rate
1.25%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emmons, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56029 | 0.40% | 0.81% | 1.20% | 1.44% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Emmons, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Emmons, Minnesota. 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 local 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 Emmons, 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. For instance, the median home price in Emmons is $141,750, with the median tax bill ranging from $1,022 at the 25th percentile to $3,402 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 56029, with a median tax bill of $1,534. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Emmons Assessed Value
$141,750
Average Freeborn County Assessed Value
$133,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emmons, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56029 | $41,030 | $88,575 | $141,750 | $219,125 | $519,790 |
Source: Ownwell
Property Tax Bills Across Emmons, Minnesota
In Emmons, located in Freeborn County, MN, property tax bills are calculated based on the assessed value of a homeowner's property. This assessed value is determined by local assessors who evaluate the market value of the property. The tax rate, which is applied to the assessed value, is influenced by the local government's budgetary needs and voter-approved measures. For instance, with a median home price of $141,750 in Emmons, property tax bills can vary significantly. Homeowners at the 25th percentile can expect a tax bill around $1,022, while those at the 75th percentile may see bills as high as $2,365. At the 90th percentile, the tax bill can reach up to $3,402. The highest median tax bill in the area is $1,534, reflecting the localized nature of property tax assessments. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Consequently, understanding how property tax bills are calculated can help homeowners better anticipate their financial responsibilities and the benefits they receive from local services.
Average Emmons Tax Bill
$1,534
Average Freeborn County Tax Bill
$1,666
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Emmons, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56029 | $323 | $1,022 | $1,534 | $2,365 | $3,402 |
Source: Ownwell