Willmar, Minnesota Property Taxes
The median property tax rate in Willmar, MN is 1.13%, which is higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $189,900 in Willmar, the typical annual property tax bill amounts to $2,158, surpassing the national median of $2,690. Property taxes in Willmar are calculated based on the assessed value, generally lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Willmar'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 Willmar 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
Willmar, 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 Willmar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Willmar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Willmar 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 Willmar, Minnesota
Property taxes in Willmar, Minnesota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Willmar is 1.13%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Willmar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willmar 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 Willmar's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56201 zip code has the highest median property tax rate of 1.13%, while the 56201 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Willmar 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 Willmar Tax Rate
1.13%
Average Kandiyohi County Tax Rate
1.04%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Willmar, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56201 | 0.85% | 0.99% | 1.13% | 1.24% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Willmar, Minnesota
In Willmar, 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 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. In Willmar, 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 Willmar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the area is $2,158, found in the 56201 zip code.
Average Willmar Assessed Value
$189,900
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 Willmar, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56201 | $101,420 | $136,600 | $189,900 | $281,500 | $396,780 |
Source: Ownwell
Property Tax Bills Across Willmar, Minnesota
In Willmar, located in Kandiyohi 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 is intended to reflect the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Willmar, the median home price stands at $189,900. The property tax bill can vary significantly, with the 25th percentile tax bill at $1,504 and the 75th percentile at $3,140. In some cases, it can go as high as $4,428 at the 90th percentile. The highest and lowest median tax bills in the area both stand at $2,158, indicating a relatively consistent tax rate across the city. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Homeowners should be aware of these factors as they can significantly influence annual housing costs.
Average Willmar Tax Bill
$2,158
Average Kandiyohi County Tax Bill
$2,360
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Willmar, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56201 | $1,016 | $1,504 | $2,158 | $3,140 | $4,428 |
Source: Ownwell