Ulen, Minnesota Property Taxes
The median property tax rate in Ulen, MN is 0.96%, slightly below the national median of 0.99% and significantly lower than the Minnesota state median of 1.11%. With a median home value of $224,200 in Ulen, the typical annual property tax bill is around $1,780, which is less than the national median of $2,690. Property taxes in Ulen are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Ulen'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 Ulen 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
Ulen, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,152
Ownwell’s Ulen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ulen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ulen 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 Ulen, Minnesota
Property taxes in Ulen, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ulen is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Ulen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ulen 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 Ulen's effective property tax rate to other counties in Minnesota and the national median. For comparison, the highest median property tax rate in the county is 0.96% in the zip code 56585, while the lowest is also 0.96% in the same zip code. Understanding how these cities compare with Ulen 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 Ulen Tax Rate
0.96%
Average Clay County Tax Rate
1.36%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ulen, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56585 | 0.23% | 0.36% | 0.96% | 1.27% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Ulen, Minnesota
In Ulen, Minnesota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Assessor 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 Ulen, 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. For instance, the median home price in Ulen is $224,200, with tax bills ranging from $912 at the 25th percentile to $3,635 at the 90th percentile. 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 Ulen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ulen Assessed Value
$224,200
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 Ulen, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56585 | $58,860 | $137,700 | $224,200 | $398,950 | $703,660 |
Source: Ownwell
Property Tax Bills Across Ulen, Minnesota
In Ulen, Clay County, MN, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $224,200, homeowners can expect varying tax bills depending on specific factors such as property size, location, and improvements. The tax bill for the 25th percentile is around $912, while the 75th percentile sees bills closer to $2,674. At the higher end, the 90th percentile tax bill can reach up to $3,635. These variations highlight how individual property characteristics and local tax rates influence the final amount. For homeowners, this means that while the national median property tax rate stands at 0.99%, the actual tax burden in Ulen can differ significantly based on individual property assessments. Understanding these factors is crucial for homeowners to anticipate their annual financial obligations and plan accordingly.
Average Ulen Tax Bill
$1,780
Average Clay County Tax Bill
$3,042
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Ulen, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56585 | $464 | $912 | $1,780 | $2,674 | $3,635 |
Source: Ownwell