Holland, Minnesota Property Taxes
The median property tax rate in Holland, MN is 1.09%, slightly higher than the national median of 0.99% but just below the Minnesota state median of 1.11%. With the median home value in Holland at $38,200, the typical annual property tax bill amounts to $406, which is significantly lower than the national median of $2,690. Property taxes in Holland are calculated based on the assessed value, which is generally lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Holland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Holland or another part of Pipestone County, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holland, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$416
Ownwell’s Holland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holland 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 Holland, Minnesota
Property taxes in Holland, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holland is 1.09%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Holland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holland 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 Holland's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56139 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Holland provides valuable insights into the varying tax landscape across Pipestone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holland Tax Rate
1.09%
Average Pipestone County Tax Rate
1.35%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holland, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56139 | 1.05% | 1.06% | 1.09% | 1.15% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Holland, Minnesota
In Holland, 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 Pipestone 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 Holland, 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 instance, in the 56139 zip code, the median tax bill is $406. 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 Holland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Holland Assessed Value
$38,200
Average Pipestone County Assessed Value
$69,550
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holland, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56139 | $19,670 | $22,775 | $38,200 | $49,575 | $51,540 |
Source: Ownwell
Property Tax Bills Across Holland, Minnesota
In Holland, Pipestone County, MN, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to generate the annual tax bill. The median home price in Holland is $38,200, and the property tax rate is reflective of this valuation. Homeowners in Holland typically see a range of property tax bills. The 25th percentile tax bill is around $256, while the 75th percentile tax bill is approximately $526. For those at the higher end, the 90th percentile tax bill reaches up to $670. These figures illustrate how property taxes can vary significantly based on property values and the specific assessments. Compared to the national median property tax rate of 0.99%, Holland's tax bills are relatively modest, which can be a financial relief for homeowners. This calculation method ensures that property taxes are fairly distributed, reflecting the market value and ensuring that necessary public services are funded.
Average Holland Tax Bill
$406
Average Pipestone County Tax Bill
$966
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Holland, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56139 | $226 | $256 | $406 | $526 | $670 |
Source: Ownwell