Blomkest, Minnesota Property Taxes
The median property tax rate in Blomkest, MN is 1.16%, higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $158,350 in Blomkest, the typical annual property tax bill amounts to $1,838, which is below the national median of $2,690. Property taxes in Blomkest are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Blomkest'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 Blomkest or another part of Kandiyohi County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blomkest, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,837
Ownwell’s Blomkest Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blomkest with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blomkest 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 Blomkest, Minnesota
Property taxes in Blomkest, Minnesota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Blomkest is 1.16%, significantly higher than the U.S. national median of 0.99%. Local government entities within Blomkest set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blomkest 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 Blomkest's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56216 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Blomkest provides valuable insights into the varying tax landscape across Kandiyohi County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blomkest Tax Rate
1.16%
Average Kandiyohi County Tax Rate
1.04%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blomkest, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56216 | 0.41% | 0.83% | 1.16% | 1.40% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Blomkest, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Blomkest, 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 Kandiyohi 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. 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 Blomkest helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,838, found in zip code 56216.
Property Tax Assessment Values Across Blomkest, Minnesota
Source: Ownwell
$150,200
$1,044,050
$1,937,900
Average Blomkest Assessed Value
$158,350
Average Kandiyohi County Assessed Value
$222,850
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blomkest, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56216 | $63,880 | $95,425 | $158,350 | $278,775 | $889,670 |
Source: Ownwell
Property Tax Bills Across Blomkest, Minnesota
In Blomkest, Kandiyohi County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value typically reflects a percentage of the market value of the property. Homeowners in Blomkest experience a range of property tax bills depending on their property's assessed value and the local tax rate. For instance, the tax bill for the 25th percentile is around $1,320, while the 75th percentile reaches up to $2,720. Those in the 90th percentile can expect to pay as much as $3,908. The median home price in Blomkest is $158,350, which helps to contextualize these tax amounts. Compared to the national median property tax rate of 0.99%, Blomkest’s property tax rates reflect the local economic conditions and funding requirements for public services. Homeowners should be aware that their tax bills contribute to essential services like schools, infrastructure, and emergency services, directly impacting community quality of life.
Average Blomkest Tax Bill
$1,838
Average Kandiyohi County Tax Bill
$2,360
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Blomkest, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56216 | $681 | $1,320 | $1,838 | $2,720 | $3,908 |
Source: Ownwell