Donnelly, Minnesota Property Taxes
The median property tax rate in Donnelly, MN is 0.58%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Donnelly at $159,800, the typical annual property tax bill amounts to $910, which is well below the national median of $2,690. Property taxes in Donnelly are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Donnelly's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Donnelly or another part of Grant County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Donnelly, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$927
Ownwell’s Donnelly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Donnelly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Donnelly 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 Donnelly, Minnesota
Property taxes in Donnelly, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Donnelly is 1.12%, higher than both the Minnesota state median of 1.02% and the U.S. national median of 0.99%. Local government entities within Donnelly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Donnelly 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 Donnelly's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56335 zip code has the highest median property tax rate of 1.12%, while the 56335 zip code has the lowest median tax rate of 1.12%. Understanding how these cities compare with Donnelly provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Donnelly Tax Rate
0.58%
Average Grant County Tax Rate
0.87%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Donnelly, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56235 | 0.52% | 0.55% | 0.58% | 0.61% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Donnelly, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Donnelly, Minnesota. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Grant 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 Donnelly, 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. The median home price in Donnelly is $159,800, with the 25th percentile tax bill at $895 and the 75th percentile tax bill at $925. The highest and lowest median tax bills are both $910, found in the 56235 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Donnelly Assessed Value
$159,800
Average Grant County Assessed Value
$166,400
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Donnelly, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56235 | $140,440 | $147,700 | $159,800 | $171,900 | $179,160 |
Source: Ownwell
Property Tax Bills Across Donnelly, Minnesota
Property tax bills in Donnelly, located in Grant County, MN, are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Donnelly, the median home price stands at $159,800. Homeowners in this area can expect their property tax bills to range significantly depending on their property's assessed value. For instance, tax bills at the 25th percentile are around $895, while those at the 75th percentile reach approximately $925. The 90th percentile tax bill is $934, indicating a relatively narrow range in tax amounts across different properties. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life in Donnelly. Compared to the national median property tax rate of 0.99%, Donnelly's property tax rates offer a competitive advantage, making it an attractive option for homeowners.
Average Donnelly Tax Bill
$910
Average Grant County Tax Bill
$1,600
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Donnelly, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56235 | $886 | $895 | $910 | $925 | $934 |
Source: Ownwell