Ponsford, Minnesota Property Taxes
The median property tax rate in Ponsford, MN is 0.67%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Ponsford at $259,750, the typical annual property tax bill is $1,646, which is significantly below the national median of $2,690. Property taxes in Ponsford 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 Ponsford'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 Ponsford or another part of Becker County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ponsford, 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 Ponsford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ponsford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ponsford 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 Becker County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Ponsford, Minnesota
Property taxes in Ponsford, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ponsford is 0.67%, lower than the U.S. national median of 0.99%. Local government entities within Ponsford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ponsford 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 Ponsford's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56575 zip code has both the highest and lowest median property tax rate of 0.67%. Understanding how these cities compare with Ponsford provides valuable insights into the varying tax landscape across Becker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ponsford Tax Rate
0.67%
Average Becker County Tax Rate
0.72%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ponsford, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56575 | 0.57% | 0.63% | 0.67% | 0.71% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Ponsford, Minnesota
In Ponsford, 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 Becker 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 Ponsford, 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. The median home price in Ponsford is $259,750, with tax bills ranging from $721 at the 25th percentile to $4,562 at the 90th percentile. The zip code 56575 has both the highest and lowest median tax bills at $1,646. 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 Ponsford Assessed Value
$259,750
Average Becker County Assessed Value
$241,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ponsford, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56575 | $27,920 | $120,000 | $259,750 | $513,850 | $678,210 |
Source: Ownwell
Property Tax Bills Across Ponsford, Minnesota
In Ponsford, Becker County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and market conditions influence the assessed value. For homeowners in Ponsford, the median home price is $259,750, and property tax bills can vary significantly. The tax bill at the 25th percentile is $721, while at the 75th percentile, it rises to $3,121, and at the 90th percentile, it reaches $4,562. The highest and lowest median tax bills are both $1,646, which is above the national median property tax rate of 0.99%. These figures highlight the variability in property tax bills within the area, affecting homeowners differently based on their property's assessed value. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average Ponsford Tax Bill
$1,646
Average Becker County Tax Bill
$1,854
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Ponsford, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56575 | $177 | $721 | $1,646 | $3,121 | $4,562 |
Source: Ownwell