Hackensack, Minnesota Property Taxes
The median property tax rate in Hackensack, MN is 0.50%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Hackensack at $305,100, the typical annual property tax bill reaches $1,497, significantly less than the national median of $2,690. Property taxes in Hackensack 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 Hackensack'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 Hackensack or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hackensack, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$1,526
Ownwell’s Hackensack Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hackensack with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hackensack 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 Hackensack, Minnesota
Property taxes in Hackensack, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hackensack is 0.50%, which is significantly lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Hackensack set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hackensack 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 Hackensack's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56452 zip code, which includes Hackensack, has both the highest and lowest median property tax rate of 0.50%. Understanding how these cities compare with Hackensack 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 Hackensack Tax Rate
0.50%
Average Cass County Tax Rate
0.53%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hackensack, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56452 | 0.43% | 0.46% | 0.50% | 0.52% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Hackensack, Minnesota
In Hackensack, 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 Cass 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 Hackensack, 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 Hackensack helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the area is $1,497 in the 56452 zip code, while the lowest is also $1,497 in the same zip code.
Average Hackensack Assessed Value
$305,100
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 Hackensack, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56452 | $90,220 | $177,750 | $305,100 | $465,350 | $682,380 |
Source: Ownwell
Property Tax Bills Across Hackensack, Minnesota
Property tax bills in Hackensack, MN, part of Cass County, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Hackensack, the median home price stands at $305,100. Property tax bills can vary significantly, with the 25th percentile at $897 and the 75th percentile at $2,296. At the 90th percentile, homeowners may see bills as high as $3,513. These taxes fund essential local services such as schools, infrastructure, and emergency services. While Hackensack's property tax rates can be substantial, they are in line with national trends, where the median property tax rate is 0.99%. Understanding these factors can help homeowners anticipate their annual expenses and budget accordingly.
Average Hackensack Tax Bill
$1,497
Average Cass County Tax Bill
$1,350
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Hackensack, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56452 | $422 | $897 | $1,497 | $2,296 | $3,513 |
Source: Ownwell