Le Sueur, Minnesota Property Taxes
The median property tax rate in Le Sueur, MN is 0.59%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Le Sueur at $378,800, the typical annual property tax bill is $2,418, which is below the national median of $2,690. Property taxes in Le Sueur are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Le Sueur'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 Le Sueur or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Le Sueur, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$2,235
Ownwell’s Le Sueur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Le Sueur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Le Sueur 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 Le Sueur, Minnesota
Property taxes in Le Sueur, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Le Sueur is 1.02%, higher than both the Minnesota state median of 0.88% and the U.S. national median of 0.99%. Local government entities within Le Sueur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Le Sueur 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 Le Sueur's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56058 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Le Sueur provides valuable insights into the varying tax landscape across Sibley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Le Sueur Tax Rate
0.59%
Average Sibley County Tax Rate
0.81%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Le Sueur, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56058 | 0.27% | 0.40% | 0.59% | 0.86% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Le Sueur, Minnesota
In Le Sueur, 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 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 Le Sueur, 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 Le Sueur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $2,418, found in the 56058 zip code.
Average Le Sueur Assessed Value
$378,800
Average Sibley County Assessed Value
$273,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Le Sueur, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56058 | $70,410 | $239,975 | $378,800 | $666,475 | $1,031,590 |
Source: Ownwell
Property Tax Bills Across Le Sueur, Minnesota
In Le Sueur, located in Sibley County, MN, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Le Sueur is $378,800. Property taxes are determined by multiplying the assessed value by the local tax rate. For instance, the tax bill at the 25th percentile is $1,141, while at the 75th percentile, it rises to $4,069. The 90th percentile tax bill reaches $5,741. Several factors influence these tax bills, including property size, location, and any applicable exemptions. Homeowners in Le Sueur should be aware that their property tax rate may differ from the national median rate of 0.99%. With the highest and lowest median tax bills both at $2,418 in the zip code 56058, residents can expect a range of tax obligations. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Le Sueur Tax Bill
$2,418
Average Sibley County Tax Bill
$2,314
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Le Sueur, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56058 | $279 | $1,141 | $2,418 | $4,069 | $5,741 |
Source: Ownwell