Mendota, Minnesota Property Taxes
The median property tax rate in Mendota, MN is 0.76%, notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $253,800 in Mendota, the typical annual property tax bill comes to $1,910, which is below the national median of $2,690. Property taxes in Mendota are calculated based on the tax assessed value, typically lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Mendota'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 Mendota or another part of Dakota County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mendota, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,929
Ownwell’s Mendota Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mendota with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Mendota to provide an accurate property tax bill estimate. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by Dakota County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Mendota, Minnesota
Property taxes in Mendota, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mendota is 0.76%, lower than the U.S. national median of 0.99%. Local government entities within Mendota set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mendota 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 Mendota's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55150 zip code has the highest median property tax rate of 0.76%, while the 55150 zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Mendota provides valuable insights into the varying tax landscape across Dakota County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mendota Tax Rate
0.76%
Average Dakota County Tax Rate
1.06%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mendota, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55150 | 0.72% | 0.74% | 0.76% | 0.84% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Mendota, Minnesota
In Mendota, 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 Dakota 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 Mendota, 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. Mendota homeowners face a median home price of $253,800, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $945, while the 75th percentile tax bill reaches $3006. The 90th percentile tax bill can be as high as $8046. 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 Mendota helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mendota Assessed Value
$253,800
Average Dakota County Assessed Value
$344,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mendota, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55150 | $35,140 | $133,800 | $253,800 | $397,900 | $1,002,400 |
Source: Ownwell
Property Tax Bills Across Mendota, Minnesota
In Mendota, Dakota County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors who evaluate the property's market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $253,800, homeowners can expect varying tax bills depending on their property's specific assessment and applicable exemptions. The median property tax rate in Mendota is influenced by county and city budgetary needs, which fund essential services such as schools, public safety, and infrastructure. Homeowners in the 25th percentile of tax bills pay around $945 annually, while those in the 75th percentile face bills closer to $3006. The 90th percentile sees tax bills as high as $8046. Compared to the national median property tax rate of 0.99%, Mendota's rates can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors is crucial for homeowners planning their finances and anticipating annual expenses.
Average Mendota Tax Bill
$1,910
Average Dakota County Tax Bill
$3,728
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Mendota, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55150 | $232 | $945 | $1,910 | $3,006 | $8,046 |
Source: Ownwell