Jordan, Minnesota Property Taxes
The median property tax rate in Jordan, MN is 1.17%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Jordan, the typical annual property tax bill reaches $3,700, exceeding the national median of $2,690. Property taxes in Jordan 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 Jordan'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 Jordan 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
Jordan, 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 Jordan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jordan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jordan 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 Jordan, Minnesota
Property taxes in Jordan, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jordan is 1.17%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Jordan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jordan 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 Jordan's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55352 zip code has the highest median property tax rate of 1.17%, while the 55352 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Jordan provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jordan Tax Rate
1.17%
Average Scott County Tax Rate
1.07%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jordan, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55352 | 0.69% | 0.82% | 1.17% | 1.24% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Jordan, Minnesota
In Jordan, 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 Scott 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. 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. For instance, the highest median tax bill in Jordan is $3,700 in the 55352 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jordan Assessed Value
$369,900
Average Scott County Assessed Value
$388,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jordan, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55352 | $141,020 | $262,400 | $369,900 | $497,100 | $671,880 |
Source: Ownwell
Property Tax Bills Across Jordan, Minnesota
In Jordan, located in Scott County, MN, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. For instance, with a median home price of $369,900, homeowners can expect their tax bills to vary significantly based on their property's assessed value and the specific tax rates applied. Factors such as property location, market conditions, and any applicable exemptions or deductions also play a crucial role in the final tax bill. The 25th percentile tax bill in Jordan is around $2,690, while the 75th percentile tax bill reaches up to $4,818, indicating a wide range of possible tax obligations. At the 90th percentile, the tax bill can soar to approximately $5,744. These figures highlight how property taxes can substantially impact homeowners' financial planning and budgeting. Comparing this to the national median property tax rate of 0.99%, Jordan's property tax rates reflect the unique economic landscape of Scott County.
Average Jordan Tax Bill
$3,700
Average Scott County Tax Bill
$4,100
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Jordan, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55352 | $964 | $2,690 | $3,700 | $4,818 | $5,744 |
Source: Ownwell