Frontenac, Minnesota Property Taxes
The median property tax rate in Frontenac, MN is 0.91%, slightly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Frontenac at $221,600, the typical annual property tax bill reaches $2,074, which is below the national median of $2,690. Property taxes in Frontenac 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 Frontenac'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 Frontenac 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
Frontenac, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$2,017
Ownwell’s Frontenac Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frontenac with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frontenac 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 Frontenac, Minnesota
Property taxes in Frontenac, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Frontenac is 1.09%, higher than both the Minnesota state median of 1.05% and the U.S. national median of 0.99%. Local government entities within Frontenac set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frontenac 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 Frontenac's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55026 zip code has the highest median property tax rate of 1.09%, while the 55026 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Frontenac provides valuable insights into the varying tax landscape across Goodhue County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Frontenac Tax Rate
0.91%
Average Goodhue County Tax Rate
1.21%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frontenac, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55026 | 0.81% | 0.86% | 0.91% | 0.97% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Frontenac, Minnesota
In Frontenac, 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 Goodhue 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 Frontenac, 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 Frontenac helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $2,074, found in the 55026 zip code.
Average Frontenac Assessed Value
$221,600
Average Goodhue County Assessed Value
$266,700
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Frontenac, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55026 | $26,410 | $130,425 | $221,600 | $396,200 | $562,870 |
Source: Ownwell
Property Tax Bills Across Frontenac, Minnesota
In Frontenac, located in Goodhue County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Frontenac, the median home price is $221,600, and property tax bills can vary significantly. For example, the 25th percentile tax bill is around $1,260, while the 75th percentile reaches up to $3,810, and the 90th percentile can be as high as $5,444. Several factors influence these tax bills, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. The highest and lowest median tax bills in the area are both $2,074, which is above the national median property tax rate of 0.99%. This means that homeowners in Frontenac may face higher property taxes compared to other regions, impacting their overall housing costs and financial planning.
Average Frontenac Tax Bill
$2,074
Average Goodhue County Tax Bill
$3,110
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Frontenac, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55026 | $440 | $1,260 | $2,074 | $3,810 | $5,444 |
Source: Ownwell