Angora, Minnesota Property Taxes
The median property tax rate in Angora, MN is 0.92%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Angora, the typical annual property tax bill amounts to $806, significantly below the national median of $2,690. Property taxes in Angora are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Angora'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 Angora 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
Angora, 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 Angora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Angora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Angora 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 Angora, Minnesota
Property taxes in Angora, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Angora is 0.92%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Angora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Angora 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 Angora's effective property tax rate to other areas in St. Louis County and the national median. For comparison, the zip code 55703 has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Angora provides valuable insights into the varying tax landscape across St. Louis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Angora Tax Rate
0.92%
Average St. Louis County Tax Rate
1.26%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Angora, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55703 | 0.51% | 0.71% | 0.92% | 1.08% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Angora, Minnesota
In Angora, 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 St. Louis 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 Angora, 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 Angora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Angora is $806, found in the 55703 zip code, while the lowest is also $806, in the same zip code.
Average Angora Assessed Value
$100,000
Average St. Louis County Assessed Value
$137,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Angora, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55703 | $33,480 | $60,900 | $100,000 | $161,200 | $212,640 |
Source: Ownwell
Property Tax Bills Across Angora, Minnesota
In Angora, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The median home price in the area is $100,000. Tax authorities in St. Louis County apply a specific tax rate to this assessed value to determine the annual tax bill. For homeowners, this means that the amount they owe can vary significantly. For instance, the tax bill at the 25th percentile is $502, while at the 75th percentile, it rises to $1,291. Those at the 90th percentile can expect to pay around $1,872. Compared to the national median property tax rate of 0.99%, Angora's tax rates show a range of financial impacts on homeowners. The highest and lowest median tax bills in the area are both $806, indicating some level of consistency in tax assessments. Understanding these factors can help homeowners anticipate their financial responsibilities and plan accordingly.
Average Angora Tax Bill
$806
Average St. Louis County Tax Bill
$1,738
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Angora, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55703 | $286 | $502 | $806 | $1,291 | $1,872 |
Source: Ownwell