Ortonville, Minnesota Property Taxes
The median property tax rate in Ortonville, MN is 0.27%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Ortonville at $651,600, the typical annual property tax bill amounts to $1,616, which is well below the national median of $2,690. Property taxes in Ortonville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ortonville'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 Ortonville 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
Ortonville, 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 Ortonville Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Ortonville to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Ortonville, Minnesota
Property taxes in Ortonville, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ortonville is 0.27%, significantly lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Ortonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ortonville 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 Ortonville's effective property tax rate to other counties in Minnesota and the national median. For comparison, the highest median property tax rate in the area is 0.99%, while the lowest median tax rate is 0.27%. Understanding how these cities compare with Ortonville 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 Ortonville Tax Rate
0.27%
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 Ortonville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56278 | 0.19% | 0.23% | 0.27% | 0.62% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Ortonville, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ortonville, Minnesota. 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 Ortonville, 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 Ortonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1,616, found in zip code 56278.
Average Ortonville Assessed Value
$651,600
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 Ortonville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56278 | $135,640 | $199,000 | $651,600 | $960,600 | $1,033,580 |
Source: Ownwell
Property Tax Bills Across Ortonville, Minnesota
In Ortonville, MN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the Lac qui Parle County assessor, who evaluates the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and condition, as well as current market trends. For homeowners in Ortonville, the tax bill can vary significantly. The 25th percentile tax bill is around $962, while the 75th percentile tax bill reaches approximately $2,518. At the 90th percentile, homeowners may see tax bills as high as $3,350. Compared to the national median property tax rate of 0.99%, Ortonville's tax rates can be quite variable. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners must stay informed about their property's assessed value and any changes in local tax rates to manage their financial planning effectively.
Average Ortonville Tax Bill
$1,616
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 Ortonville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56278 | $555 | $962 | $1,616 | $2,518 | $3,350 |
Source: Ownwell