Argyle, Minnesota Property Taxes
The median property tax rate in Argyle, MN is 0.86%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Argyle at $142,900, the typical annual property tax bill amounts to $1,142, which is significantly below the national median of $2,690. Property taxes in Argyle 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 Argyle'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 Argyle 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
Argyle, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,229
Ownwell’s Argyle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Argyle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Argyle 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 Argyle, Minnesota
Property taxes in Argyle, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Argyle is 0.86%, lower than the U.S. national median of 0.99%. Local government entities within Argyle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Argyle 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 Argyle's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56713 zip code has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Argyle provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Argyle Tax Rate
0.86%
Average Marshall County Tax Rate
0.87%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Argyle, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56713 | 0.48% | 0.64% | 0.86% | 1.07% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Argyle, Minnesota
In Argyle, Minnesota, understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes. The market value represents 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 Marshall 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 Argyle, 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. The median home price in Argyle is $142,900, with tax bills ranging from $576 at the 25th percentile to $2,051 at the 90th percentile. The zip code with the highest median tax bill is 56713, at $1,142, which is also the lowest. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Argyle Assessed Value
$142,900
Average Marshall County Assessed Value
$114,600
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Argyle, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56713 | $25,420 | $72,350 | $142,900 | $198,200 | $276,940 |
Source: Ownwell
Property Tax Bills Across Argyle, Minnesota
In Argyle, MN, property tax bills are calculated based on the assessed value of a property, which is determined by the Marshall County Assessor’s Office. The assessed value is a percentage of the property's market value, and this value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $142,900, homeowners can expect a range of tax bills depending on various factors, such as property improvements and neighborhood changes. Homeowners in Argyle typically see tax bills ranging from $576 at the 25th percentile to $1596 at the 75th percentile, with the 90th percentile reaching up to $2051. This variability can significantly impact household budgets, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly. The highest and lowest median tax bills in Argyle are both recorded at $1142, indicating a consistent tax rate within the zip code 56713.
Average Argyle Tax Bill
$1,142
Average Marshall County Tax Bill
$868
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Argyle, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56713 | $209 | $576 | $1,142 | $1,596 | $2,051 |
Source: Ownwell