Dodge Center, Minnesota Property Taxes
The median property tax rate in Dodge Center, MN is 1.30%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Dodge Center, the typical annual property tax bill reaches $2,805, exceeding the national median of $2,690. Property taxes in Dodge Center 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 Dodge Center'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 Dodge Center 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
Dodge Center, 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 Dodge Center Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dodge Center with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dodge Center 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 Dodge Center, Minnesota
Property taxes in Dodge Center, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dodge Center is 1.30%, significantly higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Dodge Center set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dodge Center 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 Dodge Center's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55927 has both the highest and lowest median property tax rate of 1.30%. Understanding how these cities compare with Dodge Center provides valuable insights into the varying tax landscape across Dodge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dodge Center Tax Rate
1.30%
Average Dodge County Tax Rate
1.28%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dodge Center, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55927 | 0.62% | 0.79% | 1.30% | 1.43% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Dodge Center, Minnesota
In Dodge Center, 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 Dodge 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 Dodge Center, 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. The median home price in Dodge Center is $244,300, with tax bills ranging from $2,168 at the 25th percentile to $5,174 at the 90th percentile. Notably, the zip code 55927 has the highest and lowest median tax bill of $2,805. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Dodge Center, Minnesota
Source: Ownwell
$226,900
$387,350
$547,800
Average Dodge Center Assessed Value
$244,300
Average Dodge County Assessed Value
$291,650
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dodge Center, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55927 | $135,240 | $177,225 | $244,300 | $362,700 | $536,050 |
Source: Ownwell
Property Tax Bills Across Dodge Center, Minnesota
In Dodge Center, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value considers factors such as the property's market value, location, and any improvements made. The tax rate is then applied to the assessed value to determine the annual tax bill. For homeowners in Dodge Center, the median home price is $244,300. Property tax bills can vary significantly, with the 25th percentile at $2,168 and the 75th percentile at $3,800. The 90th percentile reaches $5,174, indicating that higher-valued properties incur substantially larger tax bills. The area's median property tax bill stands at $2,805, which is above the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Homeowners must consider these taxes as part of their overall housing expenses, influencing both their monthly budget and long-term financial planning.
Average Dodge Center Tax Bill
$2,805
Average Dodge County Tax Bill
$3,286
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Dodge Center, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55927 | $1,525 | $2,168 | $2,805 | $3,800 | $5,174 |
Source: Ownwell