Donnelly, Minnesota Property Taxes
The median property tax rate in Donnelly, MN is 1.09%, slightly higher than the national median of 0.99% but just below the Minnesota state median of 1.11%. With a median home value of $84,700, the typical annual property tax bill in Donnelly reaches $896, which is significantly lower than the national median of $2,690. Property taxes in Donnelly are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Donnelly'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 Donnelly or another part of Stevens County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Donnelly, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$923
Ownwell’s Donnelly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Donnelly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Donnelly 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 Donnelly, Minnesota
Property taxes in Donnelly, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Donnelly is 1.09%, which is higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Donnelly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Donnelly 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 Donnelly's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56235 has both the highest and lowest median property tax rate in the region at 1.09%. Understanding how these areas compare with Donnelly provides valuable insights into the varying tax landscape across Stevens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Donnelly Tax Rate
1.09%
Average Stevens County Tax Rate
1.24%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Donnelly, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56235 | 0.69% | 0.84% | 1.09% | 1.34% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Donnelly, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Donnelly, Minnesota. 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 Stevens 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 Donnelly, 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. The median home price in Donnelly is $84,700, with tax bills ranging from $578 at the 25th percentile to $2,803 at the 90th percentile. The zip code 56235 has the highest median tax bill at $896. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Donnelly Assessed Value
$84,700
Average Stevens County Assessed Value
$112,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Donnelly, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56235 | $24,140 | $46,700 | $84,700 | $151,800 | $346,920 |
Source: Ownwell
Property Tax Bills Across Donnelly, Minnesota
In Donnelly, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the total tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations made. For homeowners in Donnelly, the median home price is $84,700. Property tax bills can vary significantly, ranging from the 25th percentile at $578 to the 90th percentile at $2,803. The median tax bill in the region is $896, which is below the national median property tax rate of 0.99%. This relatively lower tax rate can be beneficial for homeowners, making Donnelly an attractive place for property investment. However, higher property values or extensive home improvements can lead to increased tax bills, impacting homeowners' annual expenses. Understanding these factors is crucial for homeowners to anticipate their property tax obligations accurately.
Average Donnelly Tax Bill
$896
Average Stevens County Tax Bill
$1,340
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Donnelly, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56235 | $339 | $578 | $896 | $1,472 | $2,803 |
Source: Ownwell