Clinton, Minnesota Property Taxes
The median property tax rate in Clinton, MN is 0.78%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $71,600 in Clinton, the typical annual property tax bill amounts to $794, significantly below the national median of $2,690. Property taxes in Clinton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Clinton'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 Clinton or another part of Big Stone County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clinton, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$558
Ownwell’s Clinton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clinton 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 Clinton, Minnesota
Property taxes in Clinton, Minnesota, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clinton is 0.78%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Clinton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clinton 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 Clinton's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56225 zip code has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Clinton provides valuable insights into the varying tax landscape across Big Stone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clinton Tax Rate
0.78%
Average Big Stone County Tax Rate
1.13%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clinton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56225 | 0.56% | 0.60% | 0.78% | 1.62% | 2.27% |
Source: Ownwell
Property Tax Assessment Values Across Clinton, Minnesota
In Clinton, 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 Big Stone County Assessor 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 Clinton, 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 Clinton is $71,600, and homeowners can expect tax bills ranging from $364 at the 25th percentile to $2,215 at the 90th percentile. The zip code 56225 has both the highest and lowest median tax bill of $794. 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 Clinton Assessed Value
$71,600
Average Big Stone County Assessed Value
$88,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clinton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56225 | $9,680 | $27,000 | $71,600 | $147,900 | $271,820 |
Source: Ownwell
Property Tax Bills Across Clinton, Minnesota
In Clinton, located in Big Stone County, MN, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Clinton is $71,600, and the property tax rate is calculated based on this assessed value. Homeowners in this region can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $364, while the 75th percentile tax bill is $1,369. The highest tax bills, at the 90th percentile, can reach up to $2,215. These figures highlight the range of property tax burdens that homeowners might face. Factors influencing the tax bill include property size, location, and any applicable exemptions or appeals. Compared to the national median property tax rate of 0.99%, Clinton's property tax bills reflect local economic conditions and municipal funding needs. Understanding these factors can help homeowners anticipate their annual property tax expenses and plan their finances accordingly.
Average Clinton Tax Bill
$794
Average Big Stone County Tax Bill
$908
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Clinton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56225 | $101 | $364 | $794 | $1,369 | $2,215 |
Source: Ownwell