Dilworth, Minnesota Property Taxes
The median property tax rate in Dilworth, MN is 1.37%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Dilworth at $242,900, the typical annual property tax bill reaches $3,244, exceeding the national median of $2,690. Property taxes in Dilworth 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 Dilworth'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 Dilworth or another part of Clay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dilworth, 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 Dilworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dilworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dilworth 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 Dilworth, Minnesota
Property taxes in Dilworth, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dilworth is 1.37%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Dilworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dilworth 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 Dilworth's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56529 has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these areas compare with Dilworth provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dilworth Tax Rate
1.37%
Average Clay County Tax Rate
1.36%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dilworth, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56529 | 1.19% | 1.27% | 1.37% | 1.54% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Dilworth, Minnesota
In Dilworth, 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 local 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 Dilworth, 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. The median home price in Dilworth is $242,900, with tax bills ranging from $2,588 at the 25th percentile to $6,331 at the 90th percentile. The highest median tax bill is in zip code 56529, at $3,244. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dilworth Assessed Value
$242,900
Average Clay County Assessed Value
$240,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dilworth, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56529 | $133,100 | $182,600 | $242,900 | $325,600 | $403,860 |
Source: Ownwell
Property Tax Bills Across Dilworth, Minnesota
In Dilworth, located in Clay County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Dilworth is approximately $242,900. Homeowners can expect their property tax bills to vary widely depending on the specific assessed value of their property and the applicable tax rate. For example, the tax bill for the 25th percentile is around $2,588, while the 75th percentile sees bills closer to $4,518. At the 90th percentile, the tax bill can reach up to $6,331. These figures illustrate how property taxes can significantly impact homeowners, with higher-valued properties incurring higher tax bills. Compared to the national median property tax rate of 0.99%, Dilworth's tax rates can lead to a substantial financial obligation for homeowners. The highest and lowest median tax bills in the area both stand at $3,244, indicating a consistent tax environment within the zip code 56529. Understanding these factors is crucial for homeowners to budget effectively and plan for their financial future.
Average Dilworth Tax Bill
$3,244
Average Clay County Tax Bill
$3,042
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Dilworth, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56529 | $1,481 | $2,588 | $3,244 | $4,518 | $6,331 |
Source: Ownwell