Atwater, Minnesota Property Taxes
The median property tax rate in Atwater, MN is 0.98%, slightly below the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $228,600 in Atwater, the typical annual property tax bill is $2,374, which is less than the national median of $2,690. Property taxes in Atwater 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 Atwater'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 Atwater 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
Atwater, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$2,240
Ownwell’s Atwater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Atwater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Atwater 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 Atwater, Minnesota
Property taxes in Atwater, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Atwater is 0.98%, slightly lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Atwater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Atwater 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 Atwater's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56209 zip code has both the highest and lowest median property tax rate of 0.98%. Understanding how these cities compare with Atwater provides valuable insights into the varying tax landscape across Kandiyohi County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atwater Tax Rate
0.98%
Average Kandiyohi County Tax Rate
1.04%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atwater, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56209 | 0.52% | 0.84% | 0.98% | 1.37% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Atwater, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Atwater, Minnesota. 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 Kandiyohi 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 Atwater, 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 Atwater helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,374, while the lowest is also $2,374, both found in the 56209 zip code.
Average Atwater Assessed Value
$228,600
Average Kandiyohi County Assessed Value
$222,850
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atwater, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56209 | $90,420 | $141,225 | $228,600 | $355,475 | $577,700 |
Source: Ownwell
Property Tax Bills Across Atwater, Minnesota
In Atwater, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the Kandiyohi County Assessor's Office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, size, location, and any improvements made to the property. For homeowners in Atwater, the median home price is $228,600. The property tax bills can vary significantly, with the 25th percentile tax bill at $1,612 and the 75th percentile at $3,393. The 90th percentile tax bill reaches up to $4,655. These figures highlight the range of potential tax obligations for homeowners, depending on the specifics of their property and its assessed value. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand their local rates and how they compare. High property taxes can impact a homeowner's financial planning and overall affordability of their residence.
Average Atwater Tax Bill
$2,374
Average Kandiyohi County Tax Bill
$2,360
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Atwater, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56209 | $938 | $1,612 | $2,374 | $3,393 | $4,655 |
Source: Ownwell