Marietta, Minnesota Property Taxes
The median property tax rate in Marietta, MN is 0.79%, notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Marietta at $81,400, the typical annual property tax bill amounts to $912, which is significantly less than the national median of $2,690. Property taxes in Marietta are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Marietta's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Marietta or another part of Lac qui Parle County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marietta, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$643
Ownwell’s Marietta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marietta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marietta 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 Marietta, Minnesota
Property taxes in Marietta, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marietta is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Marietta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marietta 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 Marietta's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56257 zip code has both the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with Marietta provides valuable insights into the varying tax landscape across Lac qui Parle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marietta Tax Rate
0.79%
Average Lac Qui Parle County Tax Rate
1.09%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marietta, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56257 | 0.23% | 0.42% | 0.79% | 1.57% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Marietta, Minnesota
In Marietta, 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 Lac qui Parle 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 Marietta, 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 Marietta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Marietta is $912, while the lowest is also $912, both in the 56257 zip code.
Average Marietta Assessed Value
$81,400
Average Lac Qui Parle County Assessed Value
$124,600
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marietta, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56257 | $6,840 | $27,400 | $81,400 | $498,200 | $947,820 |
Source: Ownwell
Property Tax Bills Across Marietta, Minnesota
In Marietta, located in Lac qui Parle County, MN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Marietta, the median home price is $81,400. Property tax bills can vary widely, as evidenced by the 25th percentile tax bill of $362 and the 75th percentile tax bill of $1,916. At the higher end, the 90th percentile tax bill reaches $3,031. The highest median tax bill recorded in the area is $912, which is notably lower than the national median property tax rate of 0.99%. These variations result from differences in property values and the specific tax rates applied. For homeowners, understanding these factors is crucial as they directly influence the annual financial commitment required to maintain their property.
Average Marietta Tax Bill
$912
Average Lac Qui Parle County Tax Bill
$1,448
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Marietta, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56257 | $140 | $362 | $912 | $1,916 | $3,031 |
Source: Ownwell