Dundee, Minnesota Property Taxes
The median property tax rate in Dundee, MN is 1.10%, slightly higher than the national median of 0.99% but just below the Minnesota state median of 1.11%. With a median home value of $45,000 in Dundee, the typical annual property tax bill amounts to $499, which is significantly lower than the national median of $2,690. Property taxes in Dundee are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Dundee'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 Dundee or another part of Nobles County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dundee, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$495
Ownwell’s Dundee Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Dundee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dundee 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 Dundee, Minnesota
Property taxes in Dundee, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dundee is 1.10%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Dundee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dundee 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 Dundee's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56131 zip code has the highest median property tax rate of 1.10%, while the lowest median tax rate is also 1.10%. Understanding how these cities compare with Dundee provides valuable insights into the varying tax landscape across Nobles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dundee Tax Rate
1.10%
Average Nobles County Tax Rate
1.00%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dundee, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56131 | 0.70% | 0.87% | 1.10% | 1.50% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Dundee, Minnesota
In Dundee, 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 Nobles 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 Dundee, 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. The median home price in Dundee is $45,000, with tax bills ranging from $80 at the 25th percentile to $2,694 at the 90th percentile. Notably, the highest and lowest median tax bills in the 56131 zip code are both $499. 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 Dundee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dundee Assessed Value
$45,000
Average Nobles County Assessed Value
$169,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dundee, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56131 | $2,800 | $6,850 | $45,000 | $109,800 | $303,320 |
Source: Ownwell
Property Tax Bills Across Dundee, Minnesota
In Dundee, Nobles County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. The local tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as property improvements, changes in the housing market, and local government budgets can influence the assessed value and the tax rate. Homeowners in Dundee can expect varying tax bills depending on their property’s assessed value. For example, the tax bill for the 25th percentile is around $80, while the 75th percentile sees about $1,072. At the 90th percentile, the tax bill can reach up to $2,694. This range shows how different property values can significantly affect the amount homeowners owe in property taxes. Compared to the national median property tax rate of 0.99%, Dundee's property tax rates can lead to varying financial impacts on homeowners, depending on their specific property assessments.
Average Dundee Tax Bill
$499
Average Nobles County Tax Bill
$1,588
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Dundee, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56131 | $27 | $80 | $499 | $1,072 | $2,694 |
Source: Ownwell