Hewitt, Minnesota Property Taxes
The median property tax rate in Hewitt, MN is 0.91%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Hewitt at $117,750, the typical annual property tax bill is $866, significantly below the national median of $2,690. Property taxes in Hewitt are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hewitt'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 Hewitt 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
Hewitt, 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 Hewitt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hewitt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hewitt 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 Hewitt, Minnesota
Property taxes in Hewitt, Minnesota, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Hewitt is 0.91%, slightly lower than the U.S. national median of 0.99%. Local government entities within Hewitt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hewitt 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 Hewitt's effective property tax rate to other areas and the national median. For comparison, the 56453 zip code has both the highest and lowest median property tax rate of 0.91%. Understanding how these areas compare with Hewitt provides valuable insights into the varying tax landscape across Todd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hewitt Tax Rate
0.91%
Average Todd County Tax Rate
0.88%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hewitt, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56453 | 0.34% | 0.70% | 0.91% | 1.19% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Hewitt, Minnesota
In Hewitt, 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 Todd 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 Hewitt, 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 Hewitt is $117,750. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The 25th percentile tax bill is $371, while the 75th percentile tax bill is $1,524. Being aware of these valuation processes in Hewitt 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 $866, found in zip code 56453.
Average Hewitt Assessed Value
$117,750
Average Todd County Assessed Value
$198,400
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hewitt, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56453 | $5,240 | $46,825 | $117,750 | $232,700 | $416,310 |
Source: Ownwell
Property Tax Bills Across Hewitt, Minnesota
In Hewitt, located in Todd County, MN, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the property's market value. Homeowners in Hewitt typically see a range of tax bills, with the 25th percentile paying around $371 and the 75th percentile paying up to $1,524 annually. For those in the 90th percentile, tax bills can reach as high as $2,297. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These factors combined determine how much homeowners owe in property taxes each year. With the national median property tax rate at 0.99%, Hewitt's property tax rates can be considered within a reasonable range, though individual bills can vary significantly. This variation can impact homeowners' finances, making it important for them to understand how their property taxes are calculated and what factors contribute to their final bill.
Average Hewitt Tax Bill
$866
Average Todd County Tax Bill
$1,544
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Hewitt, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56453 | $70 | $371 | $866 | $1,524 | $2,297 |
Source: Ownwell