Ogema, Minnesota Property Taxes
The median property tax rate in Ogema, MN is 0.70%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $170,800 in Ogema, the typical annual property tax bill comes to $1,168, which is well below the national median of $2,690. Property taxes in Ogema are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Grasping Ogema's property tax system, exploring available exemptions, and finding opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Ogema or another part of Becker County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ogema, 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 Ogema Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ogema with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ogema 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 Ogema, Minnesota
Property taxes in Ogema, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ogema is 0.70%, notably lower than the U.S. national median of 0.99%. Local government entities within Ogema set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ogema 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 Ogema's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56569 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these areas compare with Ogema provides valuable insights into the varying tax landscape across Becker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ogema Tax Rate
0.70%
Average Becker County Tax Rate
0.72%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ogema, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56569 | 0.54% | 0.65% | 0.70% | 0.75% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Ogema, Minnesota
In Ogema, 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 Becker 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 Ogema, 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 Ogema 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 $1,168, found in zip code 56569.
Average Ogema Assessed Value
$170,800
Average Becker County Assessed Value
$241,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ogema, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56569 | $28,700 | $84,400 | $170,800 | $285,700 | $414,880 |
Source: Ownwell
Property Tax Bills Across Ogema, Minnesota
In Ogema, located in Becker County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Ogema is $170,800. Property tax bills can vary significantly, with the 25th percentile at $612 and the 75th percentile reaching $1,890. The highest tax bills, at the 90th percentile, can go up to $2,727. Factors that influence the tax bill include the property's assessed value, which is determined by local assessors, and the specific tax rate set by the county. The local tax rate is applied to the assessed value to determine the annual property tax bill. Homeowners in Ogema should be aware that their property tax bill can have a significant impact on their annual expenses. While the median tax bill in Ogema is $1,168, it is still lower than the national median property tax rate of 0.99%, making it relatively affordable in comparison to other regions.
Average Ogema Tax Bill
$1,168
Average Becker County Tax Bill
$1,854
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Ogema, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56569 | $166 | $612 | $1,168 | $1,890 | $2,727 |
Source: Ownwell