Villard, Minnesota Property Taxes
The median property tax rate in Villard, MN is 0.55%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Villard, the typical annual property tax bill reaches $1,635, which is significantly below the national median of $2,690. Property taxes in Villard are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Villard'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 Villard 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
Villard, 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 Villard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Villard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Villard 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 Villard, Minnesota
Property taxes in Villard, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Villard is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Villard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Villard 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 Villard's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56385 has the same median property tax rate of 0.55%. Understanding how these cities compare with Villard provides valuable insights into the varying tax landscape across Pope County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Villard Tax Rate
0.55%
Average Pope County Tax Rate
0.66%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Villard, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56385 | 0.38% | 0.47% | 0.55% | 0.78% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Villard, Minnesota
In Villard, 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 Pope 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 Villard, 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 Villard 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 56385, with a tax bill of $1,635.
Average Villard Assessed Value
$287,450
Average Pope County Assessed Value
$275,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Villard, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56385 | $91,250 | $150,425 | $287,450 | $461,325 | $723,400 |
Source: Ownwell
Property Tax Bills Across Villard, Minnesota
In Villard, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Villard can expect their tax bills to vary significantly, with the 25th percentile at $1,060 and the 75th percentile reaching $2,474. For those at the higher end, the 90th percentile sees tax bills around $3,835. Several factors influence these tax bills, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the highest median tax bill in the area is $1,635, found in zip code 56385. This is slightly above the national median property tax rate of 0.99%, reflecting the local economic conditions and municipal budget requirements. These property taxes directly impact homeowners, as they contribute to funding essential public services like schools, roads, and emergency services. Consequently, understanding how these taxes are calculated can help homeowners better manage their financial planning and obligations.
Average Villard Tax Bill
$1,635
Average Pope County Tax Bill
$1,948
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Villard, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56385 | $635 | $1,060 | $1,635 | $2,474 | $3,835 |
Source: Ownwell