Onamia, Minnesota Property Taxes
The median property tax rate in Onamia, MN is 0.90%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Onamia at $256,700, the typical annual property tax bill amounts to $2,304, falling below the national median of $2,690. Property taxes in Onamia are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Onamia'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 Onamia or another part of Morrison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Onamia, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$2,310
Ownwell’s Onamia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Onamia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Onamia 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 Onamia, Minnesota
Property taxes in Onamia, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Onamia is 0.90%, slightly lower than the U.S. national median of 0.99%. Local government entities within Onamia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Onamia 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 Onamia's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56359 zip code has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Onamia provides valuable insights into the varying tax landscape across Morrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Onamia Tax Rate
0.90%
Average Morrison County Tax Rate
0.85%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Onamia, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56359 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Onamia, Minnesota
In Onamia, 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 Morrison 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 Onamia, 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 Onamia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $2,304 in zip code 56359, highlighting the consistency in property tax assessments within the area.
Average Onamia Assessed Value
$256,700
Average Morrison County Assessed Value
$210,400
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Onamia, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56359 | $256,700 | $256,700 | $256,700 | $256,700 | $256,700 |
Source: Ownwell
Property Tax Bills Across Onamia, Minnesota
Property tax bills in Onamia, located in Morrison County, MN, are determined by a combination of the property's assessed value and the local tax rate. The assessed value is an estimate of the property's market value as determined by the county assessor. For Onamia, the median home price stands at $256,700. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. In Onamia, property tax bills are relatively consistent, with the 25th, 75th, and 90th percentiles all at $2,304. This uniformity indicates a stable local tax environment. Compared to the national median property tax rate of 0.99%, homeowners in Onamia experience a specific annual tax burden based on their property’s assessed value. This tax bill contributes to local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners need to budget for this annual expense to maintain their financial stability and ensure they meet their obligations.
Average Onamia Tax Bill
$2,304
Average Morrison County Tax Bill
$1,722
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Onamia, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56359 | $2,304 | $2,304 | $2,304 | $2,304 | $2,304 |
Source: Ownwell