Alpha, Minnesota Property Taxes
The median property tax rate in ALPHA, MN is 0.75%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in ALPHA, the typical annual property tax bill reaches $1,352, which is below the national median of $2,690. Property taxes in ALPHA 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 ALPHA'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 ALPHA 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
Alpha, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s ALPHA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ALPHA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ALPHA 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 Alpha, Minnesota
Property taxes in ALPHA, Minnesota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in ALPHA is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within ALPHA set these rates annually, and they can vary significantly across different neighborhoods. Each year, ALPHA 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 ALPHA's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56111 zip code in Jackson County has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with ALPHA provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alpha Tax Rate
0.75%
Average Jackson County Tax Rate
1.05%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alpha, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56111 | 0.28% | 0.48% | 0.75% | 1.99% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Alpha, Minnesota
In ALPHA, 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 Jackson 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 ALPHA, 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. Being aware of these valuation processes in ALPHA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 56111 at $1,352, while the lowest is also 56111 at $1,352.
Average Alpha Assessed Value
$136,700
Average Jackson County Assessed Value
$145,950
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alpha, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56111 | $16,080 | $46,100 | $136,700 | $394,400 | $1,109,580 |
Source: Ownwell
Property Tax Bills Across Alpha, Minnesota
In ALPHA, located in Jackson County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence your property tax bill, including property size, location, and any improvements or additions made to the property. In ALPHA, the median home price is $136,700. Homeowners in the 25th percentile typically see tax bills around $672, while those in the 75th percentile face bills closer to $2,302. At the 90th percentile, tax bills can reach up to $3,765. These property taxes are crucial as they fund local services such as schools, public safety, and infrastructure. Understanding how these elements interact can help homeowners anticipate their annual tax obligations and budget accordingly.
Average Alpha Tax Bill
$1,352
Average Jackson County Tax Bill
$1,463
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Alpha, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56111 | $294 | $672 | $1,352 | $2,302 | $3,765 |
Source: Ownwell