Dawson, Minnesota Property Taxes
The median property tax rate in Dawson, MN is 0.32%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Dawson at $593,200, the typical annual property tax bill is $1,886, which is well below the national median of $2,690. Property taxes in Dawson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Dawson'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 Dawson 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
Dawson, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$1,898
Ownwell’s Dawson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dawson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dawson 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 Dawson, Minnesota
Property taxes in Dawson, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dawson is 1.38%, significantly higher than the Minnesota state median of 1.02% and the U.S. national median of 0.99%. Local government entities within Dawson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dawson 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 Dawson's effective property tax rate to other counties in Minnesota and the national median. For comparison, the highest median property tax rate in the region is in ZIP code 56220 at 1.40%, while the lowest median tax rate is in ZIP code 56264 at 1.25%. Understanding how these cities compare with Dawson provides valuable insights into the varying tax landscape across Yellow Medicine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dawson Tax Rate
0.32%
Average Yellow Medicine County Tax Rate
1.38%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dawson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56232 | 0.32% | 0.32% | 0.32% | 0.32% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Dawson, Minnesota
In Dawson, 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 Yellow Medicine 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 Dawson, 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 Dawson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1,886, found in zip code 56232.
Average Dawson Assessed Value
$593,200
Average Yellow Medicine County Assessed Value
$131,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dawson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56232 | $593,200 | $593,200 | $593,200 | $593,200 | $593,200 |
Source: Ownwell
Property Tax Bills Across Dawson, Minnesota
In Dawson, located in Yellow Medicine County, MN, property tax bills are calculated based on the assessed value of a home. The local assessor determines this value, which reflects the market value of the property. The tax rate is then applied to this assessed value to calculate the tax bill. For Dawson, the median home price is $593,200, and the median property tax bill stands at $1,886. This rate is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property location, market conditions, and any applicable exemptions or deductions. Homeowners in Dawson benefit from a relatively low property tax rate, which can make homeownership more affordable compared to other regions. The consistency of the tax bill, with the 25th, 75th, and 90th percentiles all reporting the same value of $1,886, indicates a stable and predictable tax environment for residents. This stability can be particularly advantageous for budgeting and financial planning.
Average Dawson Tax Bill
$1,886
Average Yellow Medicine County Tax Bill
$1,634
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Dawson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56232 | $1,886 | $1,886 | $1,886 | $1,886 | $1,886 |
Source: Ownwell