Ada, Minnesota Property Taxes
The median property tax rate in Ada, MN is 1.11%, which aligns with the state median but is higher than the national median of 0.99%. With a median home value of $101,200, the typical annual property tax bill in Ada reaches $962, which is below the national median of $2,690. Property taxes in Ada are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Ada'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 Ada or another part of Norman County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ada, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,123
Ownwell’s ADA Property Tax Bill Calculator is a valuable tool for any homeowner, real estate investor, or potential owner looking to estimate their annual property taxes in ADA. By entering your property's estimated assessed value, the calculator uses the median tax rate in ADA to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Ada, Minnesota
Property taxes in Ada, Minnesota, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Ada is 1.11%, higher than both the Minnesota state median of 1.05% and the U.S. national median of 0.99%. Local government entities within Ada set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ada 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 Ada's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56510 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Ada provides valuable insights into the varying tax landscape across Norman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ada Tax Rate
1.11%
Average Norman County Tax Rate
1.16%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ada, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56510 | 0.66% | 0.94% | 1.11% | 1.27% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Ada, Minnesota
In Ada, 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 Norman 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 Ada, 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 Ada helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 56510, with a median tax bill of $962.00, which is also the lowest median tax bill in the area.
Average Ada Assessed Value
$101,200
Average Norman County Assessed Value
$94,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ada, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56510 | $7,720 | $46,100 | $101,200 | $156,550 | $212,940 |
Source: Ownwell
Property Tax Bills Across Ada, Minnesota
In Ada, Norman County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Several factors influence this valuation, including the property's size, location, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For example, the median home price in Ada is $101,200, and property tax bills can vary significantly. Homeowners at the 25th percentile pay around $480 annually, while those at the 75th percentile face bills of approximately $1,572. At the 90th percentile, the tax bill can reach up to $2,106. Comparatively, the national median property tax rate is 0.99%, highlighting how local rates and property values can impact tax obligations. For homeowners in Ada, understanding these factors is crucial for effective financial planning and property management.
Average Ada Tax Bill
$962
Average Norman County Tax Bill
$979
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Ada, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56510 | $148 | $480 | $962 | $1,572 | $2,106 |
Source: Ownwell