Kabetogama, Minnesota Property Taxes
The median property tax rate in Kabetogama, MN is 0.65%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $75,700 in Kabetogama, the typical annual property tax bill amounts to $447, which is well below the national median of $2,690. Property taxes in Kabetogama 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 Kabetogama'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 Kabetogama 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
Kabetogama, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$492
Ownwell’s Kabetogama Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a convenient way to estimate their annual property taxes in Kabetogama. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Kabetogama to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities with ease. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Koochiching County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Kabetogama, Minnesota
Property taxes in Kabetogama, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kabetogama is 0.65%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Kabetogama set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kabetogama 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 Kabetogama's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56669 zip code has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Kabetogama provides valuable insights into the varying tax landscape across Koochiching County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kabetogama Tax Rate
0.65%
Average Koochiching County Tax Rate
0.72%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kabetogama, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56669 | 0.39% | 0.58% | 0.65% | 0.71% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Kabetogama, Minnesota
In Kabetogama, 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 Koochiching County Assessor 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 Kabetogama, 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. The highest median tax bill in Kabetogama is $447.00 in the 56669 zip code, while the lowest median tax bill is also $447.00 in the same zip code. Being aware of these valuation processes in Kabetogama helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kabetogama Assessed Value
$75,700
Average Koochiching County Assessed Value
$92,700
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kabetogama, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56669 | $22,740 | $40,725 | $75,700 | $128,125 | $181,760 |
Source: Ownwell
Property Tax Bills Across Kabetogama, Minnesota
In Kabetogama, located in Koochiching 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 generate the annual tax bill. For instance, with a median home price of $75,700, homeowners can expect their tax bills to vary. At the 25th percentile, tax bills are around $238, while at the 75th percentile, they rise to approximately $758. The highest tax bill at the 90th percentile can reach $1,117. Several factors influence the tax bill, including property size, location, and any applicable exemptions. These taxes fund essential local services such as schools, public safety, and infrastructure. When compared to the national median property tax rate of 0.99%, Kabetogama's tax rates offer a perspective on how property taxes can impact homeowners differently across regions. Understanding these nuances helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Kabetogama Tax Bill
$447
Average Koochiching County Tax Bill
$689
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Kabetogama, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56669 | $144 | $238 | $447 | $758 | $1,117 |
Source: Ownwell