Alberta, Minnesota Property Taxes
The median property tax rate in Alberta, MN is 0.22%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $979,600 in Alberta, the typical annual property tax bill amounts to $2,178, which is below the national median of $2,690. Property taxes in Alberta are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Alberta'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 Alberta or another part of Swift County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alberta, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.22%
Estimate Property Tax Bill
$2,155
Ownwell’s Alberta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alberta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alberta 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 Alberta, Minnesota
Property taxes in Alberta, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alberta is 0.22%, significantly lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Alberta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alberta 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 Alberta's effective property tax rate to other counties in Minnesota and the national median. For comparison, the highest median property tax rate in Minnesota is found in zip code 55401, with a rate of 1.32%, while the lowest median tax rate is in zip code 55616, at 0.18%. Understanding how these cities compare with Alberta provides valuable insights into the varying tax landscape across Swift County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alberta Tax Rate
0.22%
Average Swift County Tax Rate
0.99%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alberta, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56207 | 0.22% | 0.22% | 0.22% | 0.22% | 0.22% |
Source: Ownwell
Property Tax Assessment Values Across Alberta, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Alberta, 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 Swift 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 Alberta, 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. Alberta's median home price stands at $979,600, with the highest and lowest median tax bills both at $2,178 in the 56207 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Alberta Assessed Value
$979,600
Average Swift County Assessed Value
$128,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alberta, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56207 | $979,600 | $979,600 | $979,600 | $979,600 | $979,600 |
Source: Ownwell
Property Tax Bills Across Alberta, Minnesota
In Alberta, located in Swift County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value, which in Alberta is influenced by the median home price of $979,600. Once the assessed value is established, the local tax rate is applied to determine the annual property tax bill. The tax rate in Alberta results in a consistent property tax bill, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $2,178. This uniformity suggests a stable tax environment for homeowners. Compared to the national median property tax rate of 0.99%, Alberta's property tax rate reflects a localized approach to property taxation. Homeowners in Alberta can anticipate a predictable tax bill, which helps in financial planning and maintaining home affordability. The highest and lowest median tax bills in Alberta are reported to be $2,178, indicating a standardized assessment across different properties within the zip code 56207.
Average Alberta Tax Bill
$2,178
Average Swift County Tax Bill
$1,162
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Alberta, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56207 | $2,178 | $2,178 | $2,178 | $2,178 | $2,178 |
Source: Ownwell