Zimmerman, Minnesota Property Taxes
The median property tax rate in Zimmerman, MN is 1.01%, 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 Zimmerman at $349,000, the typical annual property tax bill reaches $3,502, surpassing the national median of $2,690. Property taxes in Zimmerman 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 Zimmerman'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 Zimmerman 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
Zimmerman, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$3,525
Ownwell’s Zimmerman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Zimmerman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Zimmerman 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 Sherburne County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Zimmerman, Minnesota
Property taxes in Zimmerman, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Zimmerman is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Zimmerman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Zimmerman 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. Understanding how these cities compare with Zimmerman provides valuable insights into the varying tax landscape across Sherburne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Zimmerman Tax Rate
1.01%
Average Sherburne County Tax Rate
1.08%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Zimmerman, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55398 | 0.75% | 0.81% | 1.01% | 1.14% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Zimmerman, Minnesota
In Zimmerman, 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 Sherburne County Assessor's Office 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 Zimmerman, 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. For instance, the median home price in Zimmerman is $349,000, with tax bills ranging from $2,718 at the 25th percentile to $5,319 at the 90th percentile. The zip code 55398 has both the highest and lowest median tax bill at $3,502. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Zimmerman Assessed Value
$349,000
Average Sherburne County Assessed Value
$345,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Zimmerman, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55398 | $184,050 | $270,700 | $349,000 | $432,950 | $522,000 |
Source: Ownwell
Property Tax Bills Across Zimmerman, Minnesota
In Zimmerman, located in Sherburne 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. Homeowners in Zimmerman face a median home price of $349,000, which plays a significant role in determining their tax bill. Tax rates in Zimmerman can vary, but they are influenced by local government budgets and the needs of public services such as schools and infrastructure. For example, the 25th percentile tax bill is around $2,718, while the 75th percentile reaches up to $4,348, and the 90th percentile can go as high as $5,319. The median tax bill for the area is $3,502, which is significantly higher than the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by contributing to their annual costs of homeownership, affecting budgeting and financial planning. Understanding these factors can help homeowners anticipate their financial responsibilities and plan accordingly.
Average Zimmerman Tax Bill
$3,502
Average Sherburne County Tax Bill
$3,686
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Zimmerman, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55398 | $1,957 | $2,718 | $3,502 | $4,348 | $5,319 |
Source: Ownwell