Clitherall, Minnesota Property Taxes
The median property tax rate in Clitherall, MN is 0.63%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Clitherall at $274,100, the typical annual property tax bill reaches $1,648, which is significantly below the national median of $2,690. Property taxes in Clitherall 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 Clitherall'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 Clitherall 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
Clitherall, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,727
Ownwell’s Clitherall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clitherall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clitherall 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 Clitherall, Minnesota
Property taxes in Clitherall, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clitherall is 0.63%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Clitherall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clitherall 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 Clitherall's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56524 has both the highest and lowest median property tax rate of 0.63%. Understanding how these areas compare with Clitherall provides valuable insights into the varying tax landscape across Otter Tail County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clitherall Tax Rate
0.63%
Average Otter Tail County Tax Rate
0.74%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clitherall, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56524 | 0.53% | 0.59% | 0.63% | 0.67% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Clitherall, Minnesota
In Clitherall, 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 Otter Tail 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 Clitherall, 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 Clitherall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,648 in the 56524 zip code, which is also the lowest.
Average Clitherall Assessed Value
$274,100
Average Otter Tail County Assessed Value
$204,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clitherall, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56524 | $29,900 | $113,300 | $274,100 | $493,000 | $678,800 |
Source: Ownwell
Property Tax Bills Across Clitherall, Minnesota
In Clitherall, Otter Tail County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the property's market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Factors such as property size, location, and improvements can influence the assessed value. For example, with a median home price of $274,100, homeowners in Clitherall can expect varying tax bills. At the lower end, the 25th percentile tax bill is around $691, while at the higher end, the 75th percentile tax bill reaches approximately $3,004. For those in the 90th percentile, the tax bill can be as high as $4,314. These tax bills impact homeowners by influencing their overall housing costs, which can affect affordability and financial planning. Comparing this to the national median property tax rate of 0.99%, Clitherall's property taxes can be seen as relatively moderate, providing a balanced approach to funding local services and infrastructure.
Average Clitherall Tax Bill
$1,648
Average Otter Tail County Tax Bill
$1,674
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Clitherall, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56524 | $224 | $691 | $1,648 | $3,004 | $4,314 |
Source: Ownwell