Utica, Minnesota Property Taxes
The median property tax rate in Utica, Minnesota is 0.76%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $265,950 in Utica, the typical annual property tax bill is $2,151, which is below the national median of $2,690. Property taxes in Utica 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 Utica'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 Utica or another part of Winona County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Utica, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$2,021
Ownwell’s Utica Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Utica with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Utica 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 Utica, Minnesota
Property taxes in Utica, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Utica is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Utica set these rates annually, and they can vary significantly across different neighborhoods. Each year, Utica 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 Utica's effective property tax rate to other areas in Winona County and the national median. For comparison, the zip code 55979 has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with Utica provides valuable insights into the varying tax landscape across Winona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Utica Tax Rate
0.76%
Average Winona County Tax Rate
0.91%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Utica, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55979 | 0.40% | 0.63% | 0.76% | 0.85% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Utica, Minnesota
In Utica, 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 Winona 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 Utica, 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 Utica 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 55979, both at $2,151.
Average Utica Assessed Value
$265,950
Average Winona County Assessed Value
$212,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Utica, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55979 | $99,810 | $166,250 | $265,950 | $423,725 | $854,180 |
Source: Ownwell
Property Tax Bills Across Utica, Minnesota
In Utica, located in Winona County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or modifications made to the property. Homeowners in Utica can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $1,280, while the 75th percentile reaches up to $2,800. For those at the 90th percentile, tax bills can soar to $3,894. The median home price in the area stands at $265,950, which serves as a baseline for these calculations. Comparatively, the national median property tax rate is 0.99%, highlighting how local rates and home values in Utica can lead to a wide range of tax bills. These taxes are crucial for funding local services, including schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Utica Tax Bill
$2,151
Average Winona County Tax Bill
$1,884
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Utica, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55979 | $845 | $1,280 | $2,151 | $2,800 | $3,894 |
Source: Ownwell