Kerkhoven, Minnesota Property Taxes
The median property tax rate in Kerkhoven, MN is 0.75%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Kerkhoven at $387,600, the typical annual property tax bill reaches $3,546, exceeding the national median of $2,690. Property taxes in Kerkhoven 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 Kerkhoven'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 Kerkhoven 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
Kerkhoven, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$2,907
Ownwell’s Kerkhoven Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kerkhoven with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kerkhoven 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 Kerkhoven, Minnesota
Property taxes in Kerkhoven, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kerkhoven is 0.75%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Kerkhoven set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kerkhoven 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 Kerkhoven's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56252 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Kerkhoven 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 Kerkhoven Tax Rate
0.75%
Average Kandiyohi County Tax Rate
1.04%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kerkhoven, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56252 | 0.30% | 0.43% | 0.75% | 0.86% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Kerkhoven, Minnesota
In Kerkhoven, 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 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 Kerkhoven, 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 Kerkhoven helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kerkhoven is $387,600, with the 25th percentile tax bill at $1,974 and the 75th percentile tax bill at $4,584. The highest and lowest median tax bills are both $3,546 in the 56252 zip code.
Property Tax Assessment Values Across Kerkhoven, Minnesota
Source: Ownwell
$150,200
$1,044,050
$1,937,900
Average Kerkhoven Assessed Value
$387,600
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 Kerkhoven, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56252 | $200,200 | $229,000 | $387,600 | $1,142,200 | $1,421,700 |
Source: Ownwell
Property Tax Bills Across Kerkhoven, Minnesota
In Kerkhoven, located in Kandiyohi County, MN, property tax bills are calculated based on the assessed value of a home. The county assessor determines this value, which is then multiplied by the local tax rate to calculate the annual tax bill. Factors influencing the assessed value include the home's market value, location, and any improvements made. Homeowners in Kerkhoven experience a range of property tax bills. For instance, the 25th percentile tax bill stands at $1,974, while those in the 75th percentile pay around $4,584. The 90th percentile reaches up to $6,110. These figures highlight the variability depending on property values and specific circumstances. Comparatively, the median property tax rate in Kerkhoven is in line with the national median of 0.99%. This means that while some homeowners might find their tax bills manageable, others with higher-valued properties could face more substantial payments. Understanding these factors helps homeowners plan and budget for their annual property tax obligations.
Average Kerkhoven Tax Bill
$3,546
Average Kandiyohi County Tax Bill
$2,360
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Kerkhoven, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56252 | $1,726 | $1,974 | $3,546 | $4,584 | $6,110 |
Source: Ownwell