Glyndon, Minnesota Property Taxes
The median property tax rate in Glyndon, MN is 0.94%, slightly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Glyndon at $287,350, the typical annual property tax bill reaches $2,866, which is close to the national median of $2,690. Property taxes in Glyndon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Glyndon'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 Glyndon 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
Glyndon, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$2,701
Ownwell’s Glyndon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glyndon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glyndon 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 Glyndon, Minnesota
Property taxes in Glyndon, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glyndon is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Glyndon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glyndon 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 Glyndon's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56547 has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these cities compare with Glyndon 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 Glyndon Tax Rate
0.94%
Average Clay County Tax Rate
1.36%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glyndon, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56547 | 0.32% | 0.61% | 0.94% | 1.22% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Glyndon, Minnesota
In Glyndon, 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 Clay 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 Glyndon, 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 Glyndon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Glyndon is $287,350, with tax bills ranging from $1,780 at the 25th percentile to $5,333 at the 90th percentile. The highest and lowest median tax bills are both $2,866, found in the 56547 zip code.
Average Glyndon Assessed Value
$287,350
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 Glyndon, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56547 | $113,660 | $205,600 | $287,350 | $450,475 | $818,360 |
Source: Ownwell
Property Tax Bills Across Glyndon, Minnesota
In Glyndon, Clay County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property’s market value, location, and any improvements or changes made to the property. For homeowners in Glyndon, the median home price is $287,350, which provides a baseline for understanding potential tax bills. Tax bills can vary significantly, with the 25th percentile at $1,780 and the 75th percentile reaching $4,030. At the higher end, the 90th percentile tax bill is $5,333. These figures highlight the range of property tax burdens that homeowners might face, depending on their property's assessed value and the applicable tax rate. Compared to the national median property tax rate of 0.99%, Glyndon's property tax rates can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Glyndon Tax Bill
$2,866
Average Clay County Tax Bill
$3,042
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Glyndon, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56547 | $733 | $1,780 | $2,866 | $4,030 | $5,333 |
Source: Ownwell