Jasper, Minnesota Property Taxes
The median property tax rate in Jasper, MN is 0.90%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Jasper, the typical annual property tax bill reaches $2,179, falling below the national median of $2,690. Property taxes in Jasper 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 Jasper'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 Jasper 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
Jasper, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$4,360
Ownwell’s Jasper Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Jasper. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Jasper to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities with ease. For those interested in more granular details, you can explore trends at the neighborhood level by scrolling down for localized information. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Jasper, Minnesota
Property taxes in Jasper, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jasper is 0.90%, which is slightly below the U.S. national median of 0.99%. Local government entities within Jasper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jasper 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 Jasper's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56144 has the same median property tax rate of 0.90%. Understanding how these areas compare with Jasper 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 Jasper Tax Rate
0.90%
Average Pipestone County Tax Rate
1.35%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jasper, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56144 | 0.51% | 0.66% | 0.90% | 1.15% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Jasper, Minnesota
In Jasper, 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 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 Jasper, 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. The median home price in Jasper is $484,400, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $1,336, while at the 75th percentile, it is $3,022, and at the 90th percentile, it reaches $3,529. The zip code with both the highest and lowest median tax bill is 56144, with a median tax bill of $2,179. By understanding these valuation concepts, 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 Jasper Assessed Value
$484,400
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 Jasper, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56144 | $125,120 | $259,850 | $484,400 | $708,950 | $843,680 |
Source: Ownwell
Property Tax Bills Across Jasper, Minnesota
In Jasper, Pipestone County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property location, size, and market conditions influence the assessed value. For homeowners in Jasper, the median home price is $484,400, and property tax bills can vary significantly. The tax bill at the 25th percentile is $1,336, while at the 75th percentile, it rises to $3,022, and at the 90th percentile, it reaches $3,529. These variations reflect differences in property values and specific assessments. Compared to the national median property tax rate of 0.99%, Jasper's tax bills can be higher or lower, impacting homeowners' annual financial obligations. Understanding these factors helps homeowners anticipate and manage their property tax responsibilities more effectively.
Average Jasper Tax Bill
$2,179
Average Pipestone County Tax Bill
$966
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Jasper, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56144 | $829 | $1,336 | $2,179 | $3,022 | $3,529 |
Source: Ownwell