Kettle River, Minnesota Property Taxes
The median property tax rate in Kettle River, MN is 0.92%, slightly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Kettle River at $110,000, the typical annual property tax bill reaches $1,032, which is below the national median of $2,690. Property taxes in Kettle River 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 Kettle River'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 Kettle River or another part of Carlton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kettle River, 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 Kettle River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kettle River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kettle River 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 Kettle River, Minnesota
Property taxes in Kettle River, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kettle River is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Kettle River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kettle River 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 Kettle River's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55757 zip code has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Kettle River provides valuable insights into the varying tax landscape across Carlton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kettle River Tax Rate
0.92%
Average Carlton County Tax Rate
1.15%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kettle River, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55757 | 0.74% | 0.85% | 0.92% | 1.02% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Kettle River, Minnesota
In Kettle River, 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 Carlton 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 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 Kettle River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1,032, found in the 55757 zip code.
Property Tax Assessment Values Across Kettle River, Minnesota
Source: Ownwell
$110,000
$229,550
$349,100
Average Kettle River Assessed Value
$110,000
Average Carlton County Assessed Value
$213,450
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kettle River, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55757 | $49,700 | $73,950 | $110,000 | $182,750 | $254,400 |
Source: Ownwell
Property Tax Bills Across Kettle River, Minnesota
In Kettle River, Carlton County, MN, property tax bills are determined based on the assessed value of a home, which is calculated by local government assessors. The median home price in Kettle River is $110,000. To calculate the property tax, the assessed value is multiplied by the local tax rate. In this region, the median property tax rate is 0.99%, aligning with the national median. Factors such as the property's location, size, and condition are considered during the assessment. Homeowners in Kettle River can expect varying tax bills depending on these factors. For instance, the 25th percentile tax bill is $663, while the 75th percentile tax bill is $1830, and the 90th percentile tax bill reaches up to $2602. These variations highlight how different property characteristics and values impact the overall tax burden on homeowners. Understanding these factors is crucial for homeowners as property taxes significantly affect annual expenses, influencing decisions on buying or maintaining property in the area.
Average Kettle River Tax Bill
$1,032
Average Carlton County Tax Bill
$2,610
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Kettle River, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55757 | $450 | $663 | $1,032 | $1,830 | $2,602 |
Source: Ownwell