Plainview, Minnesota Property Taxes
The median property tax rate in Plainview, MN is 1.23%, significantly higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Plainview at $245,700, the typical annual property tax bill reaches $2,932, exceeding the national median of $2,690. Property taxes in Plainview are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Plainview'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 Plainview 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
Plainview, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$3,022
Ownwell’s Plainview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plainview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plainview 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 Plainview, Minnesota
Property taxes in Plainview, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plainview is 1.23%, higher than the U.S. national median of 0.99%. Local government entities within Plainview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plainview 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 Plainview's effective property tax rate to other areas in Wabasha County and the national median. For comparison, the zip code 55964, which includes Plainview, has the highest median property tax rate of 1.23%, while the same zip code also represents the lowest median tax rate of 1.23%. Understanding how these areas compare with Plainview 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 Plainview Tax Rate
1.23%
Average Wabasha County Tax Rate
1.15%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plainview, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55964 | 0.48% | 1.00% | 1.23% | 1.32% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Plainview, Minnesota
In Plainview, 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 Plainview, 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 Plainview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Plainview is $2932.00 in the 55964 zip code, which also represents the lowest median tax bill in the area.
Average Plainview Assessed Value
$245,700
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 Plainview, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55964 | $113,700 | $186,800 | $245,700 | $327,600 | $542,280 |
Source: Ownwell
Property Tax Bills Across Plainview, Minnesota
In Plainview, located in Wabasha County, MN, property tax bills are determined based on the assessed value of your home and the local tax rate. For instance, the median home price in Plainview is $245,700. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value, thereby affecting the tax bill. Homeowners in Plainview can expect a range of property tax bills. At the 25th percentile, the tax bill is around $2,232, while at the 75th percentile, it is approximately $3,793. For those at the 90th percentile, the tax bill can reach up to $4,833. These figures illustrate the variability in property tax bills within the community. Compared to the national median property tax rate of 0.99%, homeowners in Plainview may find their tax bills to be relatively moderate or higher depending on their property’s assessed value and specific circumstances.
Average Plainview Tax Bill
$2,932
Average Wabasha County Tax Bill
$2,658
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Plainview, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55964 | $1,646 | $2,232 | $2,932 | $3,793 | $4,833 |
Source: Ownwell