Plainview, Minnesota Property Taxes
The median property tax rate in Plainview, MN is 0.65%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Plainview at $405,700, the typical annual property tax bill reaches $2,318, slightly below 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
0.65%
Estimate Property Tax Bill
$2,637
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 0.65%, lower than both the Minnesota state median and 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 counties in Minnesota and the national median. For comparison, the 55964 zip code has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Plainview provides valuable insights into the varying tax landscape across Winona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plainview Tax Rate
0.65%
Average Winona County Tax Rate
0.91%
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 | 0.38% | 0.55% | 0.65% | 0.68% | 0.72% |
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 Winona 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 zip code with both the highest and lowest median tax bill is 55964, with a median tax bill of $2,318.
Average Plainview Assessed Value
$405,700
Average Winona County Assessed Value
$212,200
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 | $113,380 | $196,000 | $405,700 | $576,100 | $838,520 |
Source: Ownwell
Property Tax Bills Across Plainview, Minnesota
In Plainview, located in Winona County, MN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For homeowners in Plainview, the median home price stands at $405,700. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, the 25th percentile tax bill is $1,318, while the 75th percentile tax bill reaches $3,740, indicating variability based on property characteristics and exemptions. The 90th percentile tax bill is $4,272, reflecting higher-value properties. Homeowners in Plainview experience property tax bills that can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, Plainview's tax bills reflect the region's specific real estate market and local tax policies. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Plainview Tax Bill
$2,318
Average Winona County Tax Bill
$1,884
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 | $628 | $1,318 | $2,318 | $3,740 | $4,272 |
Source: Ownwell