Sebeka, Minnesota Property Taxes
The median property tax rate in Sebeka, MN is 0.70%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $236,300 in Sebeka, the typical annual property tax bill reaches $1,398, well below the national median of $2,690. Property taxes in Sebeka 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 Sebeka'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 Sebeka 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
Sebeka, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,654
Ownwell’s Sebeka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sebeka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sebeka 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 Sebeka, Minnesota
Property taxes in Sebeka, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sebeka is 0.70%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Sebeka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sebeka 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 Sebeka's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56477 zip code has the highest median property tax rate of 0.70%, while the same 56477 zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Sebeka 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 Sebeka Tax Rate
0.70%
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 Sebeka, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56477 | 0.31% | 0.42% | 0.70% | 0.83% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Sebeka, Minnesota
In Sebeka, 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 Sebeka, 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 Sebeka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Sebeka are both $1398, found in the 56477 zip code.
Average Sebeka Assessed Value
$236,300
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 Sebeka, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56477 | $76,040 | $146,500 | $236,300 | $356,400 | $515,100 |
Source: Ownwell
Property Tax Bills Across Sebeka, Minnesota
In Sebeka, property tax bills are determined based on the assessed value of a home and the local tax rate set by Otter Tail County. The assessed value is an estimate of the property's market value, which is periodically evaluated by county assessors. This value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $236,300, homeowners in Sebeka can expect a range of property tax bills. At the 25th percentile, the tax bill is around $992, while at the 75th percentile, it rises to approximately $1982. Those at the 90th percentile see tax bills as high as $2659. The highest median tax bill recorded in the area is $1398. These tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Sebeka's tax rates reflect the local economic conditions and funding requirements for public services.
Average Sebeka Tax Bill
$1,398
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 Sebeka, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56477 | $530 | $992 | $1,398 | $1,982 | $2,659 |
Source: Ownwell