Nisswa, Minnesota Property Taxes
The median property tax rate in Nisswa, MN is 0.74%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $580,850 in Nisswa, the typical annual property tax bill amounts to $4,030, surpassing the national median of $2,690. Property taxes in Nisswa are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Nisswa's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can lead to substantial annual savings. Whether you're situated in the heart of Nisswa or another part of the city, a deep knowledge of the local property tax system will prove beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Nisswa, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$4,298
Ownwell’s Nisswa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nisswa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nisswa 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 Nisswa, Minnesota
Property taxes in Nisswa, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nisswa is 0.74%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Nisswa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nisswa 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 Nisswa's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56468 zip code has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Nisswa provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nisswa Tax Rate
0.74%
Average Cass County Tax Rate
0.53%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nisswa, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56468 | 0.56% | 0.62% | 0.74% | 0.79% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Nisswa, Minnesota
In Nisswa, 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 Cass 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 Nisswa, 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. The median home price in Nisswa is $580,850, with tax bills ranging from $2,153 at the 25th percentile to $10,883 at the 90th percentile. The zip code 56468 has the highest and lowest median tax bill at $4,030. 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 Nisswa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Nisswa Assessed Value
$580,850
Average Cass County Assessed Value
$248,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nisswa, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56468 | $179,090 | $336,250 | $580,850 | $953,375 | $1,440,200 |
Source: Ownwell
Property Tax Bills Across Nisswa, Minnesota
In Nisswa, 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 annual tax bill. For instance, homeowners in Cass County, where Nisswa is located, see a range of tax bills. At the 25th percentile, the tax bill is approximately $2,153, while at the 75th percentile, it rises to about $7,134. The 90th percentile tax bill can reach up to $10,883. Factors influencing these tax bills include the home's assessed value, which in Nisswa has a median home price of $580,850, and the specific tax rate applied by the county. Homeowners in Nisswa with properties in the highest median tax bill zip code, 56468, experience a median tax bill of $4,030. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community and homeowners' quality of life.
Average Nisswa Tax Bill
$4,030
Average Cass County Tax Bill
$1,350
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Nisswa, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56468 | $1,080 | $2,153 | $4,030 | $7,134 | $10,883 |
Source: Ownwell