De Graff, Minnesota Property Taxes
The median property tax rate in DE GRAFF, MN is 0.67%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $187,100 in DE GRAFF, the typical annual property tax bill amounts to $1,218, which is below the national median of $2,690. Property taxes in DE GRAFF are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding DE GRAFF's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of DE GRAFF 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
De Graff, 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 DE GRAFF Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DE GRAFF with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DE GRAFF 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 De Graff, Minnesota
Property taxes in De Graff, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in De Graff is 0.67%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within De Graff set these rates annually, and they can vary significantly across different neighborhoods. Each year, De Graff 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 De Graff's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56271 zip code has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these cities compare with De Graff provides valuable insights into the varying tax landscape across Swift County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average De Graff Tax Rate
0.67%
Average Swift County Tax Rate
0.99%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across De Graff, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56271 | 0.26% | 0.48% | 0.67% | 1.07% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across De Graff, Minnesota
In De Graff, 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 Swift 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 De Graff, 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 De Graff helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,218 in zip code 56271, reflecting a consistent tax burden across different properties.
Average De Graff Assessed Value
$187,100
Average Swift County Assessed Value
$128,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across De Graff, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56271 | $10,940 | $72,200 | $187,100 | $414,400 | $1,474,080 |
Source: Ownwell
Property Tax Bills Across De Graff, Minnesota
In De Graff, located in Swift County, MN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. The median home price in De Graff is $187,100. For homeowners, this means a range of tax bills depending on the assessed value and specific circumstances. In Swift County, the tax bill at the 25th percentile is $766, while at the 75th percentile, it rises to $2,124, and at the 90th percentile, it can go up to $4,450. Compared to the national median property tax rate of 0.99%, De Graff's property tax bills can vary significantly, impacting homeowners differently based on their property's assessed value. This variation underscores the importance of understanding local tax assessments and rates to manage property tax obligations effectively.
Average De Graff Tax Bill
$1,218
Average Swift County Tax Bill
$1,162
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across De Graff, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56271 | $338 | $766 | $1,218 | $2,124 | $4,450 |
Source: Ownwell