Kasota, Minnesota Property Taxes
The median property tax rate in Kasota, MN is 0.76%, 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 $254,400 in Kasota, the typical annual property tax bill amounts to $1,926, falling below the national median of $2,690. Property taxes in Kasota are determined based on the tax assessed value, which generally is lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Grasping Kasota's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Kasota or another part of Blue Earth County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kasota, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,933
Ownwell’s Kasota Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kasota with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kasota 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 Kasota, Minnesota
Property taxes in Kasota, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kasota is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Kasota set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kasota 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 Kasota's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56050 has the same median property tax rate of 0.76%. Understanding how these areas compare with Kasota provides valuable insights into the varying tax landscape across Blue Earth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Kasota Tax Rate
0.76%
Average Blue Earth County Tax Rate
1.06%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kasota, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56050 | 0.60% | 0.75% | 0.76% | 0.79% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Kasota, Minnesota
In Kasota, 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 Blue Earth 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 Kasota, 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 Kasota is $254,400. The median tax bill can vary significantly, with the 25th percentile at $1,011 and the 75th percentile at $2,831. The highest and lowest median tax bills are both $1,926 in zip code 56050. By understanding 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 Kasota helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kasota Assessed Value
$254,400
Average Blue Earth County Assessed Value
$262,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kasota, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56050 | $76,600 | $144,050 | $254,400 | $358,250 | $409,100 |
Source: Ownwell
Property Tax Bills Across Kasota, Minnesota
In Kasota, 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. Several factors influence the assessed value, including the home's market value, size, location, and any improvements made to the property. Homeowners in Kasota, located in Blue Earth County, experience varying property tax bills. For instance, the 25th percentile tax bill is $1,011, while the 75th percentile tax bill is $2,831. At the 90th percentile, property tax bills can reach up to $3,232. The median home price in the area is $254,400, and the highest median tax bill recorded in the zip code 56050 is $1,926. These property tax bills can significantly impact homeowners by affecting their annual budgets and overall cost of homeownership. Comparatively, Kasota's property tax rate is in line with the national median property tax rate of 0.99%, ensuring that homeowners contribute fairly to local services and infrastructure.
Average Kasota Tax Bill
$1,926
Average Blue Earth County Tax Bill
$2,724
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Kasota, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56050 | $58 | $1,011 | $1,926 | $2,831 | $3,232 |
Source: Ownwell