Nisswa, Minnesota Property Taxes
The median property tax rate in Nisswa, MN is 0.71%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Nisswa at $504,500, the typical annual property tax bill amounts to $3,564, surpassing the national median of $2,690. Property taxes in Nisswa are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Nisswa'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 Nisswa or another part of Crow Wing County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nisswa, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$3,582
Ownwell’s Nisswa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nisswa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nisswa 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 Nisswa, Minnesota
Property taxes in Nisswa, Minnesota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Nisswa stands at 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Nisswa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nisswa 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 Nisswa's effective property tax rate to other areas in Crow Wing County and the national median. For comparison, the zip code 56468 has the highest median property tax rate of 0.71%, while the zip code 56465 has the lowest median tax rate of 0.50%. Understanding how these areas compare with Nisswa provides valuable insights into the varying tax landscape across Crow Wing County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nisswa Tax Rate
0.71%
Average Crow Wing County Tax Rate
0.59%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nisswa, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56465 | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
| 56468 | 0.49% | 0.58% | 0.71% | 0.81% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Nisswa, Minnesota
In Nisswa, 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 Crow Wing 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 Nisswa, 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 Nisswa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $3,571 in the 56468 zip code, while the lowest is $828 in the 56465 zip code.
Average Nisswa Assessed Value
$504,500
Average Crow Wing County Assessed Value
$265,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nisswa, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56465 | $164,500 | $164,500 | $164,500 | $164,500 | $164,500 |
| 56468 | $74,390 | $260,450 | $504,500 | $802,800 | $1,107,900 |
Source: Ownwell
Property Tax Bills Across Nisswa, Minnesota
In Nisswa, located in Crow Wing County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Nisswa experience a range of property tax bills, influenced by factors such as the home's location, size, and condition. For instance, the tax bill for a home at the 25th percentile is around $1,679, while those at the 75th percentile can expect to pay approximately $6,025. The highest median tax bill in the area reaches $3,571, specifically in the 56468 zip code, whereas the lowest median tax bill is $828 in the 56465 zip code. These variations impact homeowners differently, with higher-valued properties incurring higher tax bills. Compared to the national median property tax rate of 0.99%, the property taxes in Nisswa reflect the local economic conditions and property values, affecting the overall cost of homeownership in the area.
Average Nisswa Tax Bill
$3,564
Average Crow Wing County Tax Bill
$1,562
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Nisswa, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56465 | $828 | $828 | $828 | $828 | $828 |
| 56468 | $498 | $1,689 | $3,571 | $6,026 | $8,920 |
Source: Ownwell