Landfall Village, Minnesota Property Taxes
The median property tax rate in Landfall Village, MN is 0.87%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Landfall Village, the typical annual property tax bill is $177, significantly below the national median of $2,690. Property taxes in Landfall Village are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Landfall Village'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 Landfall Village or another part of Washington County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Landfall Village, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$109
Ownwell’s Landfall Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Landfall Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Landfall Village 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 Landfall Village, Minnesota
Property taxes in Landfall Village, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Landfall Village is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Landfall Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Landfall Village 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 Landfall Village's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55128 zip code has the highest median property tax rate of 0.87%, while the 55128 zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Landfall Village provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Landfall Village Tax Rate
0.87%
Average Washington County Tax Rate
1.12%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Landfall Village, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55128 | 0.87% | 0.87% | 0.87% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Landfall Village, Minnesota
In Landfall Village, 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 Washington 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 Landfall Village, 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 Landfall Village helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $177 in the 55128 zip code.
Property Tax Assessment Values Across Landfall Village, Minnesota
Source: Ownwell
$12,550
$585,000
$1,157,450
Average Landfall Village Assessed Value
$12,550
Average Washington County Assessed Value
$376,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Landfall Village, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55128 | $1,410 | $1,650 | $12,550 | $32,050 | $41,200 |
Source: Ownwell
Property Tax Bills Across Landfall Village, Minnesota
In Landfall Village, Washington County, MN, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is a percentage of the market value of your property. The local tax rate is then applied to this assessed value to determine your annual tax bill. For instance, with a median home price of $12,550, homeowners can expect a tax bill ranging from $176 at the 25th percentile to $178 at the 90th percentile. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or abatements. Comparing this to the national median property tax rate of 0.99%, Landfall Village's tax bills are relatively modest. However, even these seemingly small amounts can impact homeowners, particularly those on fixed incomes or with lower-valued properties. Understanding how these factors interplay helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Landfall Village Tax Bill
$177
Average Washington County Tax Bill
$4,148
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Landfall Village, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55128 | $176 | $176 | $177 | $178 | $178 |
Source: Ownwell