Embarrass, Minnesota Property Taxes
The median property tax rate in Embarrass, MN, is 0.96%, slightly lower than the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Embarrass at $111,150, the typical annual property tax bill reaches $956, which is significantly below the national median of $2,690. Property taxes in Embarrass are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Embarrass'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 Embarrass 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
Embarrass, 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 Embarrass Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Embarrass with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Embarrass 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 Embarrass, Minnesota
Property taxes in Embarrass, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Embarrass is 0.96%, which is lower than the U.S. national median of 0.99%. Local government entities within Embarrass set these rates annually, and they can vary significantly across different neighborhoods. Each year, Embarrass 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 Embarrass's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55732 zip code has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these cities compare with Embarrass 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 Embarrass Tax Rate
0.96%
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 Embarrass, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55732 | 0.51% | 0.74% | 0.96% | 1.12% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Embarrass, Minnesota
In Embarrass, 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. 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 Embarrass helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Embarrass is $111,150, with tax bills ranging from $524 at the 25th percentile to $2,051 at the 90th percentile. The zip code 55732 has the highest and lowest median tax bill, both at $956.
Average Embarrass Assessed Value
$111,150
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 Embarrass, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55732 | $33,940 | $63,350 | $111,150 | $161,075 | $213,960 |
Source: Ownwell
Property Tax Bills Across Embarrass, Minnesota
In Embarrass, located in St. Louis County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $111,150. The local property tax rate is applied to this assessed value to determine the tax bill. Factors influencing the tax bill include the property's market value, assessment ratio, and any applicable exemptions or deductions. Homeowners in Embarrass experience a range of property tax bills, with the 25th percentile at $524 and the 75th percentile at $1,488. Those in the 90th percentile can see tax bills as high as $2,051. Compared to the national median property tax rate of 0.99%, Embarrass offers a relatively competitive tax environment, making it an attractive location for homeowners looking to manage their expenses effectively. This calculation method ensures that homeowners contribute fairly to local services and infrastructure based on their property's value.
Average Embarrass Tax Bill
$956
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 Embarrass, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55732 | $285 | $524 | $956 | $1,488 | $2,051 |
Source: Ownwell