Cass Lake, Minnesota Property Taxes
The median property tax rate in Cass Lake, MN is 0.89%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $134,900 in Cass Lake, the typical annual property tax bill amounts to $1,218, falling below the national median of $2,690. Property taxes in Cass Lake are determined based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Cass Lake's property tax system, exploring available exemptions, and identifying potential reductions can lead to substantial annual savings. Whether you reside in Cass Lake or another part of the city, familiarizing yourself with the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Cass Lake, 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 Cass Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cass Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cass Lake 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 Cass Lake, Minnesota
Property taxes in Cass Lake, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cass Lake is 0.89%, lower than the U.S. national median of 0.99%. Local government entities within Cass Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cass Lake 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 Cass Lake's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56633 has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with Cass Lake provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cass Lake Tax Rate
0.89%
Average Cass County Tax Rate
0.53%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cass Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56633 | 0.76% | 0.83% | 0.89% | 1.21% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Cass Lake, Minnesota
In Cass Lake, 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 local 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 Cass Lake, 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 Cass Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 56633, with a tax bill of $1,218, while the zip code with the lowest median tax bill is also 56633, reflecting the same amount.
Average Cass Lake Assessed Value
$134,900
Average Cass County Assessed Value
$248,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cass Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56633 | $24,960 | $51,725 | $134,900 | $269,975 | $458,980 |
Source: Ownwell
Property Tax Bills Across Cass Lake, Minnesota
In Cass Lake, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the home's size, age, location, and any improvements made. In Cass Lake, the median home price is $134,900, and property tax bills can vary significantly. For instance, tax bills at the 25th percentile are around $589, while those at the 75th percentile reach $2,292. The highest tax bills, at the 90th percentile, can be as much as $3,827. These property taxes impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Cass Lake experience a varied range of property tax obligations, reflecting the diverse property values and local tax policies.
Average Cass Lake Tax Bill
$1,218
Average Cass County Tax Bill
$1,350
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Cass Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56633 | $298 | $589 | $1,218 | $2,292 | $3,827 |
Source: Ownwell