Dent, Minnesota Property Taxes
The median property tax rate in Dent, MN is 0.72%, notably lower than both the national median of 0.99% and Minnesota's state median of 1.11%. With the median home value in Dent at $224,050, the typical annual property tax bill amounts to $1,558, which is below the national median of $2,690. Property taxes in Dent 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 Dent'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 Dent 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
Dent, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,613
Ownwell’s Dent Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dent with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dent 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 Dent, Minnesota
Property taxes in Dent, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dent is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Dent set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dent 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 Dent's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56528 has both the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Dent 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 Dent Tax Rate
0.72%
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 Dent, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56528 | 0.64% | 0.67% | 0.72% | 0.75% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Dent, Minnesota
In Dent, 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 Dent, 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 Dent 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 $1,558 in zip code 56528, while the lowest median tax bill is also $1,558 in the same zip code.
Average Dent Assessed Value
$224,050
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 Dent, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56528 | $23,330 | $88,325 | $224,050 | $367,500 | $521,570 |
Source: Ownwell
Property Tax Bills Across Dent, Minnesota
In Dent, located in Otter Tail County, MN, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Dent is $224,050. To calculate the tax bill, the assessed value of the property is multiplied by the local tax rate, which varies within the county. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Dent experience varying tax bills depending on their property's assessed value. The 25th percentile tax bill is $622, while the 75th percentile tax bill reaches $2,597. For those in the higher range, the 90th percentile tax bill can be as much as $3,722. The highest and lowest median tax bills in the region are both $1,558, found in the 56528 zip code. Compared to the national median property tax rate of 0.99%, Dent's property tax rates can significantly impact homeowners, making it essential for them to understand how their tax bills are calculated.
Average Dent Tax Bill
$1,558
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 Dent, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56528 | $184 | $622 | $1,558 | $2,597 | $3,722 |
Source: Ownwell