Outing, Minnesota Property Taxes
The median property tax rate in Outing, MN is 0.54%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Outing, the typical annual property tax bill reaches $1,371, well below the national median of $2,690. Property taxes in Outing 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 Outing'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 Outing 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
Outing, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$1,443
Ownwell’s Outing Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Outing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Outing to provide an accurate estimate of 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 Cass County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Outing, Minnesota
Property taxes in Outing, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Outing is 0.54%, lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Outing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Outing 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 Outing's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56662 zip code has the highest median property tax rate of 0.54%, while the 56662 zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Outing 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 Outing Tax Rate
0.54%
Average Cass County Tax Rate
0.53%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Outing, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56662 | 0.45% | 0.47% | 0.54% | 0.54% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Outing, Minnesota
In Outing, 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 Outing, 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 Outing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Outing are both $1,371, found in the zip code 56662.
Average Outing Assessed Value
$267,150
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 Outing, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56662 | $75,970 | $150,050 | $267,150 | $391,325 | $527,150 |
Source: Ownwell
Property Tax Bills Across Outing, Minnesota
In Outing, located in Cass 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 arrive at the annual tax bill. Factors such as property size, location, and market conditions are considered when assessing property values. For homeowners in Outing, the tax bill can vary significantly. The 25th percentile tax bill is around $757, while the 75th percentile tax bill reaches approximately $2,014. At the higher end, the 90th percentile tax bill is about $2,725. These figures show that property taxes can range widely depending on the assessed value of the home. Interestingly, the highest and lowest median tax bills in Outing are both $1,371, indicating a level of consistency in certain areas. Compared to the national median property tax rate of 0.99%, homeowners in Outing experience a varied tax landscape that impacts their annual financial commitments significantly.
Average Outing Tax Bill
$1,371
Average Cass County Tax Bill
$1,350
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Outing, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56662 | $357 | $757 | $1,371 | $2,014 | $2,725 |
Source: Ownwell