Wendell, Minnesota Property Taxes
The median property tax rate in Wendell, MN is 0.93%, slightly below both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Wendell, the typical annual property tax bill reaches $3,260, surpassing the national median of $2,690. Property taxes in Wendell 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 Wendell'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 Wendell 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
Wendell, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Wendell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wendell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wendell 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 Wendell, Minnesota
Property taxes in Wendell, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wendell is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Wendell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wendell 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 Wendell's effective property tax rate to other areas in Otter Tail County and the national median. For comparison, the zip code 56590 has both the highest and lowest median property tax rate of 0.93%. Understanding how these areas compare with Wendell 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 Wendell Tax Rate
0.93%
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 Wendell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56590 | 0.92% | 0.93% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Wendell, Minnesota
In Wendell, 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 Assessor 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 Wendell, 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 Wendell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 56590 has both the highest and lowest median tax bills, averaging $3,260.
Average Wendell Assessed Value
$350,850
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 Wendell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56590 | $348,970 | $349,675 | $350,850 | $352,025 | $352,730 |
Source: Ownwell
Property Tax Bills Across Wendell, Minnesota
In Wendell, 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 Wendell is $350,850. Property taxes are determined by multiplying the assessed value by the local tax rate, which varies by jurisdiction. For homeowners in Wendell, the tax bill falls between $3,259 and $3,262, depending on the assessed value of their property. This tax bill range is quite narrow, indicating a uniform tax rate across the city. Compared to the national median property tax rate of 0.99%, Wendell's property tax rate results in a higher tax bill for homeowners. The financial impact on homeowners can be significant, influencing decisions on home purchases and long-term financial planning. The consistency in tax bills across different percentiles suggests a stable property tax environment, which can be advantageous for budgeting and forecasting future expenses.
Average Wendell Tax Bill
$3,260
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 Wendell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56590 | $3,258 | $3,259 | $3,260 | $3,261 | $3,262 |
Source: Ownwell