Kellogg, Minnesota Property Taxes
The median property tax rate in Kellogg, MN is 0.69%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Kellogg being $269,100, the typical annual property tax bill reaches $2,246, which is below the national median of $2,690. Property taxes in Kellogg 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 Kellogg'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 Kellogg 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
Kellogg, 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 Kellogg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kellogg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kellogg 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 Kellogg, Minnesota
Property taxes in Kellogg, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kellogg is 0.69%, lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Kellogg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kellogg 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 Kellogg's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55945 has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Kellogg provides valuable insights into the varying tax landscape across Wabasha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kellogg Tax Rate
0.69%
Average Wabasha County Tax Rate
1.15%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kellogg, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55945 | 0.31% | 0.58% | 0.69% | 1.20% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Kellogg, Minnesota
In Kellogg, 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 Wabasha 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 Kellogg, 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. For instance, the median home price in Kellogg is $269,100. The annual property tax bill can vary significantly, with the 25th percentile at $1,566 and the 75th percentile at $2,917. Notably, the highest and lowest median tax bills are both $2,246 in the 55945 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kellogg Assessed Value
$269,100
Average Wabasha County Assessed Value
$243,600
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kellogg, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55945 | $107,710 | $181,075 | $269,100 | $435,875 | $914,800 |
Source: Ownwell
Property Tax Bills Across Kellogg, Minnesota
In Kellogg, located in Wabasha County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This valuation reflects the market value of the property. The median home price in Kellogg is $269,100. The property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property characteristics, local tax rates, and any applicable exemptions. Homeowners in Kellogg experience a range of tax bills. For instance, those in the 25th percentile pay around $1,566, while those in the 75th percentile see bills closer to $2,917. The highest tax bills, in the 90th percentile, can reach up to $3,950. Compared to the national median property tax rate of 0.99%, Kellogg's rate can significantly impact homeowners depending on their property's assessed value. Understanding these factors can help homeowners anticipate their property tax obligations more accurately.
Average Kellogg Tax Bill
$2,246
Average Wabasha County Tax Bill
$2,658
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Kellogg, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55945 | $884 | $1,566 | $2,246 | $2,917 | $3,950 |
Source: Ownwell