Kasson, Minnesota Property Taxes
The median property tax rate in Kasson, MN is 1.34%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Kasson at $290,900, the typical annual property tax bill reaches $3,720, exceeding the national median of $2,690. Property taxes in Kasson 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 Kasson'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 Kasson 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
Kasson, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$3,898
Ownwell’s Kasson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kasson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kasson 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 Kasson, Minnesota
Property taxes in Kasson, Minnesota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kasson is 1.34%, which is higher than the U.S. national median of 0.99%. Local government entities within Kasson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kasson 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 Kasson's effective property tax rate to other areas in Dodge County and the national median. For comparison, the zip code 55944 has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these figures compare with Kasson 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 Kasson Tax Rate
1.34%
Average Dodge County Tax Rate
1.28%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kasson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55944 | 0.90% | 1.27% | 1.34% | 1.38% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Kasson, Minnesota
In Kasson, 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 Kasson, 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 Kasson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kasson is $290,900, with tax bills ranging from $2,887 at the 25th percentile to $5,456 at the 90th percentile. The highest and lowest median tax bills are both $3,720 in the zip code 55944.
Average Kasson Assessed Value
$290,900
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 Kasson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55944 | $188,300 | $229,500 | $290,900 | $355,900 | $446,800 |
Source: Ownwell
Property Tax Bills Across Kasson, Minnesota
In Kasson, located in Dodge County, MN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is a percentage of the market value determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including property size, location, and any improvements made. For example, median home prices in Kasson are around $290,900, which can result in varying tax bills. At the 25th percentile, homeowners might pay approximately $2,887, while those at the 75th percentile could see bills around $4,566. The 90th percentile tax bill can be as high as $5,456. These property taxes significantly impact homeowners, with the median tax bill in Kasson being $3,720.00, which is higher than the national median property tax rate of 0.99%. This means homeowners in Kasson may face higher financial obligations compared to the national average, affecting their overall cost of living.
Average Kasson Tax Bill
$3,720
Average Dodge County Tax Bill
$3,286
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Kasson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55944 | $2,265 | $2,887 | $3,720 | $4,566 | $5,456 |
Source: Ownwell