Alden, Minnesota Property Taxes
The median property tax rate in Alden, MN is 1.22%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Alden, the typical annual property tax bill reaches $2,013, exceeding the national median of $2,690. Property taxes in Alden 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 Alden'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 Alden 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
Alden, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$1,995
Ownwell’s Alden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alden 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 Freeborn County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Alden, Minnesota
Property taxes in Alden, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alden is 1.22%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Alden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alden 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 Alden's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56009 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Alden provides valuable insights into the varying tax landscape across Freeborn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alden Tax Rate
1.22%
Average Freeborn County Tax Rate
1.25%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alden, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56009 | 0.54% | 0.96% | 1.22% | 1.55% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Alden, Minnesota
In Alden, 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 Freeborn 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 Alden, 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 Alden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in Alden is $163,550, with zip code 56009 having both the highest and lowest median tax bill at $2,013.
Average Alden Assessed Value
$163,550
Average Freeborn County Assessed Value
$133,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alden, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56009 | $30,550 | $91,500 | $163,550 | $294,750 | $583,350 |
Source: Ownwell
Property Tax Bills Across Alden, Minnesota
In Alden, Minnesota, property tax bills are determined based on the assessed value of a home, which is $163,550 for the median home. The assessed value is multiplied by the local tax rate to calculate the annual tax bill. Factors such as property location, improvements, and market conditions influence the assessed value. For instance, in Freeborn County, the tax bill ranges from $1,146 at the 25th percentile to $4,762 at the 90th percentile. Comparatively, the national median property tax rate is 0.99%, making the local tax rates in Alden relatively competitive. Homeowners in Alden can expect a median tax bill of $2,013, which is consistent across the local zip code 56009. This financial obligation significantly impacts homeowners, influencing decisions on property purchases and long-term investments. Understanding how these factors interplay helps homeowners better anticipate their annual expenses and manage their financial planning effectively.
Average Alden Tax Bill
$2,013
Average Freeborn County Tax Bill
$1,666
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Alden, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56009 | $434 | $1,146 | $2,013 | $3,282 | $4,762 |
Source: Ownwell