Lonsdale, Minnesota Property Taxes
The median property tax rate in Lonsdale, MN is 1.00%, slightly higher than the national median of 0.99% but lower than the Minnesota state median of 1.11%. With the median home value in Lonsdale at $323,750, the typical annual property tax bill reaches $3,040, surpassing the national median of $2,690. Property taxes in Lonsdale are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Lonsdale'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 Lonsdale 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
Lonsdale, 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 Lonsdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lonsdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lonsdale 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 Lonsdale, Minnesota
Property taxes in Lonsdale, Minnesota, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Lonsdale is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Lonsdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lonsdale 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 Lonsdale's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55046 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with Lonsdale provides valuable insights into the varying tax landscape across Rice County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lonsdale Tax Rate
1.00%
Average Rice County Tax Rate
0.89%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lonsdale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55046 | 0.29% | 0.67% | 1.00% | 1.07% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Lonsdale, Minnesota
In Lonsdale, 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 Rice 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 Lonsdale, 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 Lonsdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 55046 has both the highest and lowest median tax bills at $3,040, reflecting the median home price of $323,750.
Average Lonsdale Assessed Value
$323,750
Average Rice County Assessed Value
$294,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lonsdale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55046 | $176,000 | $258,475 | $323,750 | $399,275 | $545,950 |
Source: Ownwell
Property Tax Bills Across Lonsdale, Minnesota
In Lonsdale, Rice County, MN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. Several factors influence the tax bill, including the property's size, location, and any improvements made. Local tax rates, set by various taxing authorities such as the county, school districts, and municipalities, are then applied to the assessed value to calculate the total tax bill. For homeowners in Lonsdale, the tax bill can vary widely. The median home price stands at $323,750, and property tax bills range significantly. The 25th percentile tax bill is $2,008, while the 75th percentile tax bill is $3,712. At the 90th percentile, homeowners may see tax bills as high as $4,580. This variation can impact homeowners' budgets and financial planning, making it crucial to understand how property taxes are assessed and calculated in their specific locality.
Average Lonsdale Tax Bill
$3,040
Average Rice County Tax Bill
$2,471
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Lonsdale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55046 | $596 | $2,008 | $3,040 | $3,712 | $4,580 |
Source: Ownwell