Kilkenny, Minnesota Property Taxes
The median property tax rate in Kilkenny, MN is 0.88%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Kilkenny at $279,500, the typical annual property tax bill is $2,360, falling below the national median of $2,690. Property taxes in Kilkenny 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 Kilkenny'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 Kilkenny 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
Kilkenny, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Kilkenny Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kilkenny with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kilkenny 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 Le Sueur County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Kilkenny, Minnesota
Property taxes in Kilkenny, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kilkenny is 0.88%, which is lower than both the Minnesota state median of 1.12% and the U.S. national median of 0.99%. Local government entities within Kilkenny set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kilkenny 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 Kilkenny's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56052 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Kilkenny provides valuable insights into the varying tax landscape across Le Sueur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kilkenny Tax Rate
0.88%
Average Le Sueur County Tax Rate
1.14%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kilkenny, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56052 | 0.48% | 0.79% | 0.88% | 1.11% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Kilkenny, Minnesota
In Kilkenny, 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 Le Sueur 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 Kilkenny, 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 Kilkenny helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 56052, with a median tax bill of $2,360.
Average Kilkenny Assessed Value
$279,500
Average Le Sueur County Assessed Value
$290,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kilkenny, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56052 | $96,100 | $146,300 | $279,500 | $435,900 | $587,260 |
Source: Ownwell
Property Tax Bills Across Kilkenny, Minnesota
In Kilkenny, property tax bills are calculated based on the assessed value of a home, which is determined by the Le Sueur County Assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property improvements, market conditions, and neighborhood trends can influence the assessed value. For instance, the median home price in Kilkenny is $279,500, which provides a baseline for understanding potential tax bills. Homeowners in Kilkenny can expect their property tax bills to vary significantly depending on their property's assessed value. For example, the tax bill at the 25th percentile is $1,576, whereas at the 75th percentile, it rises to $3,524, and at the 90th percentile, it reaches $4,666. These figures illustrate the range of property tax burdens homeowners may face. Compared to the national median property tax rate of 0.99%, Kilkenny’s property tax rates could be higher or lower, impacting how much homeowners need to budget annually for their property taxes.
Average Kilkenny Tax Bill
$2,360
Average Le Sueur County Tax Bill
$3,200
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Kilkenny, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56052 | $854 | $1,576 | $2,360 | $3,524 | $4,666 |
Source: Ownwell