Swanville, Minnesota Property Taxes
The median property tax rate in Swanville, MN is 0.91%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $226,700 in Swanville, the typical annual property tax bill amounts to $1,906, falling below the national median of $2,690. Property taxes in Swanville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Swanville'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 Swanville or another part of Todd County, grasping the local property tax nuances will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Swanville, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$2,063
Ownwell’s Swanville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swanville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swanville 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 Swanville, Minnesota
Property taxes in Swanville, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Swanville is 1.09%, higher than both the Minnesota state median of 1.00% and the U.S. national median of 0.99%. Local government entities within Swanville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swanville 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 Swanville's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56382 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Swanville provides valuable insights into the varying tax landscape across Todd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Swanville Tax Rate
0.91%
Average Todd County Tax Rate
0.88%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swanville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56382 | 0.54% | 0.82% | 0.91% | 1.01% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Swanville, Minnesota
In Swanville, 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 Todd 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 Swanville, 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 Swanville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 56382 has the highest and lowest median tax bills, both at $1,906.
Average Swanville Assessed Value
$226,700
Average Todd County Assessed Value
$198,400
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Swanville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56382 | $45,100 | $118,800 | $226,700 | $358,200 | $550,200 |
Source: Ownwell
Property Tax Bills Across Swanville, Minnesota
In Swanville, located in Todd 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 Swanville is $226,700. To determine the tax bill, local authorities assess the property's value and apply the relevant tax rate. Several factors influence the assessed value, including the property's size, condition, location, and market trends. Homeowners in Swanville can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $964, while at the 75th percentile, it rises to $2,958. The tax bill at the 90th percentile reaches $4,276. With the national median property tax rate at 0.99%, Swanville's rates can be compared to gauge their relative affordability. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly. Accurate assessments ensure a fair distribution of the tax burden, impacting local services and community infrastructure.
Average Swanville Tax Bill
$1,906
Average Todd County Tax Bill
$1,544
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Swanville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56382 | $412 | $964 | $1,906 | $2,958 | $4,276 |
Source: Ownwell