Mahtowa, Minnesota Property Taxes
The median property tax rate in Mahtowa, MN is 0.92%, slightly below the national median of 0.99% and significantly lower than the Minnesota state median of 1.11%. With a median home value of $228,100 in Mahtowa, the typical annual property tax bill is $2,098, which is less than the national median of $2,690. Property taxes in Mahtowa 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 Mahtowa's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mahtowa or another part of Carlton County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mahtowa, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$2,099
Ownwell's Mahtowa Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mahtowa. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Mahtowa to provide an estimated property tax bill. This user-friendly tool offers a clear picture of potential tax liabilities, making it easier to plan and budget. For those interested in more detailed trends at the neighborhood level, additional localized information is available as you scroll down. Your property’s assessed value, determined by Carlton County, is used for tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Mahtowa, Minnesota
Property taxes in Mahtowa, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mahtowa is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Mahtowa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mahtowa 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 Mahtowa's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55707 zip code has the highest median property tax rate of 0.92%, while the 55707 zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Mahtowa provides valuable insights into the varying tax landscape across Carlton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mahtowa Tax Rate
0.92%
Average Carlton County Tax Rate
1.15%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mahtowa, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55707 | 0.77% | 0.87% | 0.92% | 0.97% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Mahtowa, Minnesota
In Mahtowa, 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 Carlton 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 Mahtowa, 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 Mahtowa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Mahtowa are both $2,098, found in the 55707 zip code.
Average Mahtowa Assessed Value
$228,100
Average Carlton County Assessed Value
$213,450
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mahtowa, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55707 | $81,600 | $152,500 | $228,100 | $295,900 | $358,080 |
Source: Ownwell
Property Tax Bills Across Mahtowa, Minnesota
In Mahtowa, Carlton County, MN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's location, size, condition, and recent sales of similar properties in the area. Homeowners in Mahtowa can expect varying tax bills depending on these factors. For instance, the median home price in the area is $228,100, with tax bills ranging from $1,229 at the 25th percentile to $3,428 at the 90th percentile. Comparatively, the national median property tax rate is 0.99%, which highlights how local rates and assessed values can significantly impact the overall tax burden on homeowners. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average Mahtowa Tax Bill
$2,098
Average Carlton County Tax Bill
$2,610
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Mahtowa, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55707 | $674 | $1,229 | $2,098 | $2,760 | $3,428 |
Source: Ownwell