Spring Grove, Minnesota Property Taxes
The median property tax rate in Spring Grove, MN is 1.01%, 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 Spring Grove at $164,800, the typical annual property tax bill amounts to $1,773, which is below the national median of $2,690. Property taxes in Spring Grove are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Spring Grove'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 Spring Grove 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
Spring Grove, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,664
Ownwell’s SPRING GROVE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SPRING GROVE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SPRING GROVE 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 Spring Grove, Minnesota
Property taxes in Spring Grove, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spring Grove is 1.01%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Spring Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spring Grove 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 Spring Grove's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55974 zip code has the highest median property tax rate of 1.01%, while the 55974 zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Spring Grove 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 Spring Grove Tax Rate
1.01%
Average Houston County Tax Rate
1.20%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spring Grove, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55974 | 0.38% | 0.70% | 1.01% | 1.39% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Spring Grove, Minnesota
In Spring Grove, 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 Spring Grove, 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 Spring Grove is $164,800, with tax bills ranging from $1,173 at the 25th percentile to $3,573 at the 90th percentile. The zip code 55974 has the highest and lowest median tax bill at $1,773. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Spring Grove, Minnesota
Source: Ownwell
$128,200
$241,900
$355,600
Average Spring Grove Assessed Value
$164,800
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 Spring Grove, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55974 | $78,200 | $118,800 | $164,800 | $250,400 | $547,400 |
Source: Ownwell
Property Tax Bills Across Spring Grove, Minnesota
In Spring Grove, Houston County, MN, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in Spring Grove is $164,800, and the property tax rate in the area influences the overall tax bill. Factors such as property size, location, and improvements can affect the assessed value, which in turn impacts the tax amount. Homeowners in Spring Grove can expect their property tax bills to vary widely. For instance, the tax bill at the 25th percentile is $1,173, while at the 75th percentile, it reaches $2,566. At the 90th percentile, the tax bill can be as high as $3,573. These variations show how different factors and property values contribute to the final tax amount. Comparatively, the national median property tax rate is 0.99%, and understanding how local rates and property values interact helps homeowners anticipate their annual tax obligations. This financial aspect is crucial for budgeting and long-term financial planning.
Average Spring Grove Tax Bill
$1,773
Average Houston County Tax Bill
$2,534
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Spring Grove, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55974 | $746 | $1,173 | $1,773 | $2,566 | $3,573 |
Source: Ownwell