Hewitt, Minnesota Property Taxes
The median property tax rate in Hewitt, Minnesota 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 Hewitt, the typical annual property tax bill reaches $1,256, well below the national median of $2,690. Property taxes in Hewitt are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hewitt'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 Hewitt or another part of Otter Tail County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hewitt, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,572
Ownwell’s Hewitt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hewitt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hewitt 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 Hewitt, Minnesota
Property taxes in Hewitt, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hewitt is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Hewitt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hewitt 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 Hewitt's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56453 has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Hewitt 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 Hewitt 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 Hewitt, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56453 | 0.31% | 0.39% | 0.63% | 0.77% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Hewitt, Minnesota
In Hewitt, 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 Hewitt, 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. For example, the median home price in Hewitt is $249,600, with tax bills ranging from $847 at the 25th percentile to $2,386 at the 90th percentile. The highest and lowest median tax bills are both $1,256 in the 56453 zip code. By understanding these valuation processes, 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 Hewitt Assessed Value
$249,600
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 Hewitt, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56453 | $86,860 | $134,700 | $249,600 | $361,300 | $521,660 |
Source: Ownwell
Property Tax Bills Across Hewitt, Minnesota
In Hewitt, located in Otter Tail County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $249,600, which serves as a basis for determining the tax bill. The assessed value is typically a percentage of the market value, and local authorities apply the tax rate to this assessed value to calculate the tax bill. Several factors influence the final tax bill, including the assessed value of the property, any applicable exemptions, and the specific tax rate set by local jurisdictions. Homeowners in Hewitt can expect a wide range in their tax bills. For instance, the tax bill at the 25th percentile is $847, while at the 75th percentile, it is $1,832. The 90th percentile tax bill reaches $2,386. These variations highlight how different property values and exemptions can significantly impact the amount homeowners pay. Understanding these factors is crucial for homeowners in Hewitt to anticipate their property tax obligations and manage their finances effectively.
Average Hewitt Tax Bill
$1,256
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 Hewitt, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56453 | $597 | $847 | $1,256 | $1,832 | $2,386 |
Source: Ownwell