Delano, Minnesota Property Taxes
The median property tax rate in Delano, MN is 1.11%, which is higher than the national median of 0.99%. With a median home value of $406,100 in Delano, the typical annual property tax bill reaches $4,232, significantly exceeding the national median of $2,690. Property taxes in Delano 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 Delano'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 Delano 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
Delano, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$4,508
Ownwell’s Delano Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Delano with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Delano 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 Delano, Minnesota
Property taxes in Delano, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Delano is 1.11%, higher than the U.S. national median of 0.99%. Local government entities within Delano set these rates annually, and they can vary significantly across different neighborhoods. Each year, Delano 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 Delano's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55328 zip code has both the highest and lowest median property tax rate of 1.11%. Understanding how these cities compare with Delano provides valuable insights into the varying tax landscape across Wright County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Delano Tax Rate
1.11%
Average Wright County Tax Rate
1.04%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Delano, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55328 | 0.65% | 0.94% | 1.11% | 1.15% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Delano, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Delano, Minnesota. 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 Wright 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. Assessment notices in Delano 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 Delano helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Delano, the highest and lowest median tax bills are both $4,232, found in zip code 55328.
Average Delano Assessed Value
$406,100
Average Wright County Assessed Value
$352,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Delano, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55328 | $246,950 | $317,950 | $406,100 | $512,675 | $744,950 |
Source: Ownwell
Property Tax Bills Across Delano, Minnesota
In Delano, MN, property tax bills are calculated based on the assessed value of a home, which local assessors determine annually. This assessed value is then multiplied by the property tax rate set by Wright County to determine the final tax bill. For instance, with a median home price of $406,100, homeowners can expect varying tax bills depending on the specific assessed value and applicable exemptions. Factors influencing the property tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. For example, tax bills in Delano range from the 25th percentile at $3,194 to the 75th percentile at $5,364, with the 90th percentile reaching $6,544. These figures illustrate how property taxes can significantly impact homeowners' annual expenses. Comparatively, the national median property tax rate is 0.99%, highlighting the importance of understanding local tax rates and their implications on homeownership costs. In Delano, the highest and lowest median tax bills are both $4,232 in the 55328 zip code, indicating a relatively uniform tax landscape within this area.
Average Delano Tax Bill
$4,232
Average Wright County Tax Bill
$3,554
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Delano, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55328 | $2,424 | $3,194 | $4,232 | $5,364 | $6,544 |
Source: Ownwell