Hawley, Minnesota Property Taxes
The median property tax rate in Hawley, MN is 1.08%, slightly above the national median of 0.99% but lower than the Minnesota state median of 1.11%. With the median home value in Hawley at $297,100, the typical annual property tax bill is $2,884, surpassing the national median of $2,690. Property taxes in Hawley are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hawley'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 Hawley or another part of Clay County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hawley, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,209
Ownwell’s Hawley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hawley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hawley 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 Hawley, Minnesota
Property taxes in Hawley, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hawley is 1.08%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Hawley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hawley 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 Hawley's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56549 zip code has the highest median property tax rate of 1.08%, while the 56549 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Hawley 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 Hawley Tax Rate
1.08%
Average Clay County Tax Rate
1.36%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hawley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56549 | 0.30% | 0.59% | 1.08% | 1.36% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Hawley, Minnesota
In Hawley, 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 Hawley, 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 Hawley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Homeowners in the 56549 zip code, for instance, face a median tax bill of $2,884, reflecting the upper and lower bounds for the region.
Average Hawley Assessed Value
$297,100
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 Hawley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56549 | $100,580 | $184,200 | $297,100 | $427,700 | $611,240 |
Source: Ownwell
Property Tax Bills Across Hawley, Minnesota
In Hawley, 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 a percentage of the property’s market value. Various factors such as the size of the property, location, and any improvements made to the home are considered when determining the assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Hawley, the tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $1,448, while at the 75th percentile, it reaches $4,224. At the 90th percentile, homeowners might see a tax bill as high as $5,648. Comparatively, these figures align with the national median property tax rate of 0.99%. The financial impact on homeowners can be substantial, influencing decisions about property investments and homeownership. Understanding how these factors interplay is crucial for homeowners planning their financial futures.
Average Hawley Tax Bill
$2,884
Average Clay County Tax Bill
$3,042
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Hawley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56549 | $497 | $1,448 | $2,884 | $4,224 | $5,648 |
Source: Ownwell