Mapleton, Minnesota Property Taxes
The median property tax rate in Mapleton, MN is 1.17%, which is higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Mapleton at $235,850, the typical annual property tax bill reaches $2,546, slightly below the national median of $2,690. Property taxes in Mapleton 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 Mapleton'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 Mapleton 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
Mapleton, 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 Mapleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mapleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mapleton 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 Mapleton, Minnesota
Property taxes in Mapleton, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mapleton is 1.17%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Mapleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mapleton 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 Mapleton's effective property tax rate to other counties in Minnesota and the national median. For comparison, the highest and lowest median property tax rates in Blue Earth County are both at 1.17%, as seen in the zip code 56065. Understanding how these cities compare with Mapleton provides valuable insights into the varying tax landscape across Blue Earth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mapleton Tax Rate
1.17%
Average Blue Earth County Tax Rate
1.06%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mapleton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56065 | 0.52% | 0.78% | 1.17% | 1.35% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Mapleton, Minnesota
In Mapleton, 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 Blue Earth 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. 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. For instance, in Mapleton, the median home price is $235,850, with tax bills ranging significantly. The 25th percentile tax bill is $1,830, while the 75th percentile reaches $3,470, and the 90th percentile climbs to $4,508. 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 Mapleton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mapleton Assessed Value
$235,850
Average Blue Earth County Assessed Value
$262,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mapleton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56065 | $130,660 | $175,975 | $235,850 | $325,300 | $474,620 |
Source: Ownwell
Property Tax Bills Across Mapleton, Minnesota
In Mapleton, located in Blue Earth County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $235,850, the property tax bill can vary significantly. Homeowners in the 25th percentile pay around $1,830, while those in the 75th percentile see bills closer to $3,470. The top 10% of homeowners face even higher taxes, with bills reaching up to $4,508. These variations depend on factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Mapleton's tax rates reflect local funding needs for services like schools, infrastructure, and emergency services. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Mapleton Tax Bill
$2,546
Average Blue Earth County Tax Bill
$2,724
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Mapleton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56065 | $1,350 | $1,830 | $2,546 | $3,470 | $4,508 |
Source: Ownwell