Chandler, Minnesota Property Taxes
The median property tax rate in Chandler, MN is 0.70%, notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Chandler at $192,900, the typical annual property tax bill is $952, which is significantly less than the national median of $2,690. Property taxes in Chandler 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 Chandler'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 Chandler 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
Chandler, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,350
Ownwell’s Chandler Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chandler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chandler 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 Chandler, Minnesota
Property taxes in Chandler, Minnesota, are crucial for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Chandler is 0.70%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Chandler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chandler 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 Chandler's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56122 has both the highest and lowest median property tax rate of 0.70%. Understanding how these cities compare with Chandler provides valuable insights into the varying tax landscape across Murray County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chandler Tax Rate
0.70%
Average Murray County Tax Rate
0.81%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chandler, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56122 | 0.11% | 0.21% | 0.70% | 0.94% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Chandler, Minnesota
In Chandler, 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 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 Chandler, 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 Chandler helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Chandler is $192,900, with tax bills ranging from $506 at the 25th percentile to $2,314 at the 90th percentile. The zip code 56122 has both the highest and lowest median tax bill at $952.
Average Chandler Assessed Value
$192,900
Average Murray County Assessed Value
$177,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chandler, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56122 | $26,180 | $90,650 | $192,900 | $423,950 | $1,274,860 |
Source: Ownwell
Property Tax Bills Across Chandler, Minnesota
Property tax bills in Chandler, located in Murray County, MN, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Chandler, the median home price is $192,900, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $506, while the 75th percentile tax bill is $1577, and the 90th percentile tax bill reaches $2314. These variations depend on factors such as property location, home size, and any applicable exemptions or deductions. Homeowners in Chandler can expect their property tax bills to impact their overall housing costs. With the national median property tax rate at 0.99%, understanding local tax rates and assessed values is crucial for budgeting and financial planning.
Average Chandler Tax Bill
$952
Average Murray County Tax Bill
$1,236
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Chandler, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56122 | $180 | $506 | $952 | $1,577 | $2,314 |
Source: Ownwell