Ellendale, Minnesota Property Taxes
The median property tax rate in Ellendale, MN is 0.72%, which is considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $278,250 in Ellendale, the typical annual property tax bill is $1,948, significantly below the national median of $2,690. Property taxes in Ellendale 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 Ellendale'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 Ellendale or another part of Steele County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ellendale, 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 Ellendale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ellendale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ellendale 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 Steele County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Ellendale, Minnesota
Property taxes in Ellendale, Minnesota, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Ellendale is 1.08%, which is higher than both the Minnesota state median of 1.00% and the U.S. national median of 0.99%. Local government entities within Ellendale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ellendale 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 Ellendale's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56026 zip code has the highest median property tax rate of 1.08%, while the 56026 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Ellendale provides valuable insights into the varying tax landscape across Steele County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ellendale Tax Rate
0.72%
Average Steele County Tax Rate
1.36%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ellendale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56026 | 0.22% | 0.35% | 0.72% | 1.29% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Ellendale, Minnesota
In Ellendale, 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 Steele 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 Ellendale, 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 Ellendale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $1,948, found in zip code 56026.
Average Ellendale Assessed Value
$278,250
Average Steele County Assessed Value
$246,000
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ellendale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56026 | $79,750 | $152,675 | $278,250 | $448,825 | $807,800 |
Source: Ownwell
Property Tax Bills Across Ellendale, Minnesota
In Ellendale, MN, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $278,250, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate. Factors such as property location, improvements, and market conditions are taken into account during assessment. For homeowners in Ellendale, the 25th percentile of tax bills is around $1,156, while those in the 75th percentile see bills closer to $2,974. The highest tax bills, in the 90th percentile, can reach up to $4,068. Compared to the national median property tax rate of 0.99%, Ellendale's tax bills reflect the local economic and market conditions, providing a clear picture of the financial responsibilities homeowners face. This variation affects homeowners differently, influencing decisions on buying, selling, or investing in property improvements.
Average Ellendale Tax Bill
$1,948
Average Steele County Tax Bill
$2,874
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellendale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56026 | $466 | $1,156 | $1,948 | $2,974 | $4,068 |
Source: Ownwell