Eden Valley, Minnesota Property Taxes
The median property tax rate in Eden Valley, MN is 0.96%, slightly lower than the national median of 0.99% and significantly below the Minnesota state median of 1.11%. With the median home value in Eden Valley, the typical annual property tax bill reaches $1,706, which is less than the national median of $2,690. Property taxes in Eden Valley are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Eden Valley'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 Eden Valley 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
Eden Valley, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,684
Ownwell’s Eden Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eden Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eden Valley 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 Eden Valley, Minnesota
Property taxes in Eden Valley, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eden Valley is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Eden Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eden Valley 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 Eden Valley's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55329 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Eden Valley 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 Eden Valley Tax Rate
0.96%
Average Meeker County Tax Rate
0.88%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eden Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55329 | 0.63% | 0.77% | 0.96% | 1.15% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Eden Valley, Minnesota
In Eden Valley, 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 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 Eden Valley, 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 Eden Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 55329 has the highest median tax bill at $1,706, which is also the lowest median tax bill in the area.
Average Eden Valley Assessed Value
$175,450
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 Eden Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55329 | $91,090 | $129,750 | $175,450 | $257,800 | $364,570 |
Source: Ownwell
Property Tax Bills Across Eden Valley, Minnesota
In Eden Valley, located in Meeker County, MN, property tax bills are calculated based on the assessed value of a property. The local tax assessor determines this value, which is then multiplied by the local tax rate to arrive at the annual tax bill. For instance, a homeowner with a median home price of $175,450 can expect a property tax bill that varies significantly, ranging from $1,097 at the 25th percentile to $3,498 at the 90th percentile. Factors such as property size, location, and improvements influence the assessed value. Additionally, local government budgets and school district funding needs play a crucial role in determining the tax rate. This variability means homeowners in Eden Valley may experience differing financial impacts based on their property's assessed value and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, Eden Valley's tax bills reflect a range that can either be more manageable or more burdensome, depending on individual circumstances.
Average Eden Valley Tax Bill
$1,706
Average Meeker County Tax Bill
$2,075
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Eden Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55329 | $735 | $1,097 | $1,706 | $2,673 | $3,498 |
Source: Ownwell