Dalbo, Minnesota Property Taxes
The median property tax rate in Dalbo, MN is 0.80%, notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Dalbo at $266,950, the typical annual property tax bill amounts to $1,867, which is below the national median of $2,690. Property taxes in Dalbo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dalbo'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 Dalbo 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
Dalbo, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,136
Ownwell’s Dalbo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dalbo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dalbo 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 Dalbo, Minnesota
Property taxes in Dalbo, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dalbo is 1.05%, higher than both the Minnesota state median of 1.02% and the U.S. national median of 0.99%. Local government entities within Dalbo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dalbo 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 Dalbo's effective property tax rate to other counties in Minnesota and the national median. For comparison, 55017 has the highest median property tax rate of 1.05%, while 55017 also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Dalbo provides valuable insights into the varying tax landscape across Isanti County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dalbo Tax Rate
0.80%
Average Isanti County Tax Rate
0.95%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dalbo, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55017 | 0.23% | 0.36% | 0.80% | 0.91% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Dalbo, Minnesota
In Dalbo, 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 Isanti 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 Dalbo, 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 Dalbo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Dalbo are both $1,867, found in zip code 55017.
Average Dalbo Assessed Value
$266,950
Average Isanti County Assessed Value
$289,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dalbo, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55017 | $72,470 | $163,625 | $266,950 | $381,900 | $494,950 |
Source: Ownwell
Property Tax Bills Across Dalbo, Minnesota
In Dalbo, Isanti County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Dalbo, the median home price stands at $266,950. The property tax rate in Dalbo is influenced by various factors including local government budgets, school district funding, and public service requirements. For example, the tax bill for homes in the 25th percentile is around $714, while those in the 75th percentile face a bill of approximately $2,923. At the 90th percentile, homeowners might see a tax bill as high as $3,778. This variability significantly impacts homeowners, as those with higher-valued properties end up paying more in property taxes. Compared to the national median property tax rate of 0.99%, Dalbo's rates can be seen as relatively moderate, offering a balanced approach for residents in terms of public service funding and individual financial burden.
Average Dalbo Tax Bill
$1,867
Average Isanti County Tax Bill
$2,982
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Dalbo, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55017 | $172 | $714 | $1,867 | $2,923 | $3,778 |
Source: Ownwell