Atwater, Minnesota Property Taxes
The median property tax rate in Atwater, MN is 0.66%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Atwater at $262,400, the typical annual property tax bill is $1,796, which is well below 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, such as 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 Meeker County, 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
0.66%
Estimate Property Tax Bill
$1,732
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 essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Atwater is 0.66%, which is lower than 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 areas in Minnesota and the national median. For comparison, the zip code 56209 has both the highest and the lowest median property tax rate of 0.66%. Understanding how these cities compare with Atwater provides valuable insights into the varying tax landscape across Meeker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atwater Tax Rate
0.66%
Average Meeker County Tax Rate
0.88%
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 | 0.48% | 0.59% | 0.66% | 0.69% | 0.71% |
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 Meeker 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Atwater is $1,796 in the 56209 zip code, while the lowest median tax bill is also $1,796 in the same zip code.
Average Atwater Assessed Value
$262,400
Average Meeker County Assessed Value
$230,100
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 | $154,400 | $202,200 | $262,400 | $307,800 | $439,300 |
Source: Ownwell
Property Tax Bills Across Atwater, Minnesota
Property tax bills in Atwater, Meeker County, MN are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. With a median home price of $262,400, homeowners in Atwater can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,306, while at the 75th percentile, it rises to $2,162. At the 90th percentile, it can reach as high as $3,032. These figures highlight the range of property tax burdens that homeowners may face, influenced by factors such as property value and local tax rates. Compared to the national median property tax rate of 0.99%, homeowners in Atwater experience a diverse range of tax bills, reflecting the variability in property values and local tax assessments. This variability can significantly impact homeowners' financial planning and overall cost of living.
Average Atwater Tax Bill
$1,796
Average Meeker County Tax Bill
$2,075
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 | $930 | $1,306 | $1,796 | $2,162 | $3,032 |
Source: Ownwell