Delano, Minnesota Property Taxes
The median property tax rate in Delano, MN is 0.84%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $536,150 in Delano, the typical annual property tax bill amounts to $4,118, surpassing the national median of $2,690. Property taxes in Delano are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Delano'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 Delano 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
Delano, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$4,504
Ownwell’s Delano Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Delano with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Delano to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, ensuring you’re well-prepared for any financial obligations. For those interested in more detailed insights, scroll down to access neighborhood-level trends and localized information. Your property’s assessed value is determined by Carver County for property tax calculations, accounting for any applicable exemptions.
Property Tax Rates Across Delano, Minnesota
Property taxes in Delano, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Delano is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Delano set these rates annually, and they can vary significantly across different neighborhoods. Each year, Delano 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. For comparison, the zip code 55328 has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Delano provides valuable insights into the varying tax landscape across Carver County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Delano Tax Rate
0.84%
Average Carver County Tax Rate
1.09%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Delano, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55328 | 0.41% | 0.70% | 0.84% | 0.86% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Delano, Minnesota
In Delano, 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 Carver County Assessor's Office 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 Delano, 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 Delano helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Delano is $536,150, with the 25th percentile tax bill at $2,856 and the 75th percentile tax bill at $5,960. The highest and lowest median tax bills are both $4,118 in zip code 55328.
Average Delano Assessed Value
$536,150
Average Carver County Assessed Value
$399,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Delano, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55328 | $334,250 | $413,450 | $536,150 | $775,575 | $1,052,600 |
Source: Ownwell
Property Tax Bills Across Delano, Minnesota
In Delano, Carver County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $536,150, the property tax bill can vary significantly. Homeowners in the 25th percentile pay around $2,856, while those in the 75th percentile see bills closer to $5,960, and those in the 90th percentile face tax bills as high as $8,728. The local property tax rate in Delano is influenced by various factors, including municipal budgets, school funding, and public services. When compared to the national median property tax rate of 0.99%, Delano's rates can be seen as relatively moderate. For homeowners, these taxes play a crucial role in maintaining community infrastructure and services, directly impacting the quality of life and property values in the area.
Average Delano Tax Bill
$4,118
Average Carver County Tax Bill
$4,166
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Delano, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55328 | $2,125 | $2,856 | $4,118 | $5,960 | $8,728 |
Source: Ownwell