Aitkin, Aitkin County, Minnesota Property Taxes

Name: Property Tax Bills Across Aitkin, Aitkin County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Aitkin, MN effective property tax rate: 0.49%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Aitkin, MN home value: $227,500
Median annual Aitkin, MN tax bill: $1,070, $1,330 lower than the national median property tax bill of $2,400.

How are property taxes in Aitkin calculated?

Property taxes in Aitkin, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Aitkin’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Aitkin, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Aitkin, Aitkin County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.49%

Estimate Property Tax Bill

$1,115

$1,034

Ownwell’s Aitkin Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Aitkin with just two data points. By entering your property's estimated assessed value, our calculator applies Aitkin’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Aitkin County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Aitkin, Aitkin County, Minnesota

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Aitkin in Aitkin County, MN, has a property tax landscape that stands out. The effective property tax rate in Aitkin is significantly lower than the national median of 1.02%. This provides a noteworthy contrast for homeowners, especially when compared to other cities in Minnesota. While some areas in the state may have higher rates, Aitkin's rate offers a more affordable alternative. This can be particularly appealing to potential homebuyers looking for a balance between property value and tax obligations. With the national median property tax bill at $2,400, Aitkin offers a compelling case for those seeking lower property tax expenses. Comparing Aitkin’s effective property tax rate to other cities in Minnesota and the U.S. highlights its affordability and appeal.

Property Tax Rates Across Aitkin, Aitkin County, Minnesota

Source: Ownwell

0.43%

0.54%

0.65%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Aitkin Tax Rate

0.49%

Median Effective Aitkin County Tax Rate

0.51%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Aitkin, Aitkin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56431	0.31%	0.42%	0.49%	0.53%	0.67%

Source: Ownwell

Property Tax Assessment Values Across Aitkin, Aitkin County, Minnesota

When examining property taxes in Aitkin, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Aitkin County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: Aitkin County assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Aitkin. For example, the median home price in Aitkin is $227,500, with tax bills ranging significantly across the county. Zip code 56431 has the highest median home price at $227,500.

Property Tax Assessment Values Across Aitkin, Aitkin County, Minnesota

Source: Ownwell

$102,700

$165,100

$227,500

Median Aitkin Market Value

$227,500

Median Aitkin County Market Value

$189,500

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Aitkin, Aitkin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56431	$13,700	$84,100	$227,500	$377,000	$542,840

Source: Ownwell

Property Tax Bills Across Aitkin, Aitkin County, Minnesota

In Aitkin, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as the home's location, size, and condition can influence its assessed value. In Aitkin, the median property tax bill stands at $1,070, which is below the national median of $2,400. Homeowners in Aitkin might see tax bills ranging from $332 at the 25th percentile to $2,672 at the 90th percentile. Such variability highlights the importance of ensuring an accurate assessment to avoid overpaying. Ownwell can assist homeowners by reviewing their property assessments and identifying potential discrepancies. By filing appeals and exemptions on behalf of homeowners, Ownwell helps ensure that property tax bills are fair and accurate. This service can lead to significant savings, easing the financial burden on homeowners and ensuring they pay only their fair share.

Property Tax Bills Across Aitkin, Aitkin County, Minnesota

Source: Ownwell

$372

$872

$1,372

Median Aitkin Tax Bill

$1,070

Median Aitkin County Tax Bill

$932

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Aitkin, Aitkin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56431	$68	$332	$1,070	$1,838	$2,672

Source: Ownwell