La Crescent, Minnesota Property Taxes
The median property tax rate in La Crescent, MN is 1.43%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in La Crescent, the typical annual property tax bill reaches $3,675, exceeding the national median of $2,690. Property taxes in La Crescent 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 La Crescent'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 La Crescent 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
La Crescent, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$3,808
Ownwell’s LA CRESCENT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA CRESCENT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA CRESCENT 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 La Crescent, Minnesota
Property taxes in LA CRESCENT, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LA CRESCENT is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within LA CRESCENT set these rates annually, and they can vary significantly across different neighborhoods. Each year, LA CRESCENT 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 LA CRESCENT's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55947 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with LA CRESCENT 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 La Crescent Tax Rate
1.43%
Average Houston County Tax Rate
1.20%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Crescent, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55947 | 1.02% | 1.28% | 1.43% | 1.49% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across La Crescent, Minnesota
In LA CRESCENT, 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 Houston 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 LA CRESCENT, 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 LA CRESCENT is $266,300, with tax bills ranging from $2,868 at the 25th percentile to $6,679 at the 90th percentile. The zip code 55947 has both the highest and lowest median tax bill at $3,675. 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 LA CRESCENT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average La Crescent Assessed Value
$266,300
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 La Crescent, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55947 | $159,000 | $214,100 | $266,300 | $345,200 | $459,960 |
Source: Ownwell
Property Tax Bills Across La Crescent, Minnesota
In La Crescent, located in Houston County, MN, property tax bills are determined based on the assessed value of a home. The assessed value is an estimate of the property's market value, which is then multiplied by the local tax rate to calculate the tax bill. Factors influencing the tax bill include the property's location, size, and any improvements made. For instance, the median home price in La Crescent is $266,300. Homeowners in the 25th percentile can expect a tax bill around $2,868, while those in the 75th percentile may see bills closer to $4,792. At the 90th percentile, tax bills can reach up to $6,679. The highest and lowest median tax bills in La Crescent both stand at $3,675, which is significantly higher than the national median property tax rate of 0.99%. These tax bills impact homeowners by influencing their monthly mortgage payments and overall housing affordability.
Average La Crescent Tax Bill
$3,675
Average Houston County Tax Bill
$2,534
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across La Crescent, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55947 | $1,954 | $2,868 | $3,675 | $4,792 | $6,679 |
Source: Ownwell