Dassel, Minnesota Property Taxes
The median property tax rate in Dassel, MN is 0.27%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Dassel at $1,385,700, the typical annual property tax bill reaches $3,710, surpassing the national median of $2,690. Property taxes in Dassel 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 Dassel'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 Dassel or another part of Wright County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dassel, 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 Dassel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dassel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dassel 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 Dassel, Minnesota
Property taxes in Dassel, Minnesota, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Dassel is 0.95%, which is higher than the Minnesota state median of 0.75% but slightly lower than the U.S. national median of 0.99%. Local government entities within Dassel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dassel 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 Dassel's effective property tax rate to other counties in Minnesota and the national median. For comparison, the highest median property tax rate in Minnesota can be found in zip code 55124, which has a rate of 1.20%, while the lowest median tax rate is in zip code 56701, at 0.55%. Understanding how these cities compare with Dassel provides valuable insights into the varying tax landscape across Wright County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dassel Tax Rate
0.27%
Average Wright County Tax Rate
1.04%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dassel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55325 | 0.27% | 0.27% | 0.27% | 0.27% | 0.27% |
Source: Ownwell
Property Tax Assessment Values Across Dassel, Minnesota
In Dassel, 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 Wright 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 Dassel, 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 Dassel is $1,385,700, with the median tax bill being $3,710. Both the highest and lowest median tax bills in the area are also $3,710, specifically in the 55325 zip code. By understanding 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 Dassel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dassel Assessed Value
$1,385,700
Average Wright County Assessed Value
$352,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dassel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55325 | $1,385,700 | $1,385,700 | $1,385,700 | $1,385,700 | $1,385,700 |
Source: Ownwell
Property Tax Bills Across Dassel, Minnesota
Property tax bills in Dassel, located in Wright County, MN, are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. For example, with a median home price of $1,385,700, the tax bill at various percentiles remains consistently at $3,710. This reflects a relatively uniform property tax rate across different property values in the area. Several factors influence the assessed value, including the property's location, size, and condition. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Dassel may find that their property tax bills are influenced by local government budgets, school district funding needs, and public service requirements. Compared to the national median property tax rate of 0.99%, homeowners in Dassel experience a unique tax structure that ensures a stable tax bill amount, providing predictability for financial planning.
Average Dassel Tax Bill
$3,710
Average Wright County Tax Bill
$3,554
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Dassel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55325 | $3,710 | $3,710 | $3,710 | $3,710 | $3,710 |
Source: Ownwell