Eitzen, Minnesota Property Taxes
The median property tax rate in Eitzen, MN is 1.05%, slightly higher than the national median of 0.99% but lower than Minnesota's state median of 1.11%. With a median home value of $128,200 in Eitzen, the typical annual property tax bill amounts to $1,391, which is below the national median of $2,690. Property taxes in Eitzen are based on the assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Eitzen'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 Eitzen or another part of Houston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eitzen, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,346
Ownwell’s Eitzen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eitzen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eitzen 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 Eitzen, Minnesota
Property taxes in Eitzen, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eitzen is 1.05%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Eitzen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eitzen 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 Eitzen's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55931 has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Eitzen provides valuable insights into the varying tax landscape across Houston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eitzen Tax Rate
1.05%
Average Houston County Tax Rate
1.20%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eitzen, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55931 | 0.41% | 0.74% | 1.05% | 1.32% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Eitzen, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Eitzen, 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 Houston County Assessor 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 Eitzen, 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 median home price in Eitzen is $128,200. The 25th percentile tax bill is $905, while the 75th percentile tax bill is $1987, and the 90th percentile tax bill is $2728. The highest and lowest median tax bill in Eitzen is $1391, found in the 55931 zip code. By being aware of these valuation processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Eitzen Assessed Value
$128,200
Average Houston County Assessed Value
$221,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eitzen, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55931 | $46,340 | $90,650 | $128,200 | $187,650 | $485,140 |
Source: Ownwell
Property Tax Bills Across Eitzen, Minnesota
In Eitzen, property tax bills are calculated based on the assessed value of the property, which is determined by the Houston County assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $128,200, homeowners might expect a tax bill around the national median property tax rate of 0.99%, but local rates can vary. Several factors influence the tax bill, including the property's market value, any applicable exemptions, and the specific tax rate set by local authorities. In Eitzen, the 25th percentile tax bill is $905, while the 75th percentile tax bill is $1987, and the 90th percentile tax bill can reach up to $2728. These variations reflect differences in property values and applicable exemptions. For homeowners, understanding how their property tax bill is calculated is crucial for financial planning. Higher tax bills may impact affordability, but they also contribute to funding essential local services such as schools, infrastructure, and public safety.
Average Eitzen Tax Bill
$1,391
Average Houston County Tax Bill
$2,534
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Eitzen, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55931 | $476 | $905 | $1,391 | $1,987 | $2,728 |
Source: Ownwell