Sargeant, Minnesota Property Taxes
The median property tax rate in Sargeant, MN is 0.59%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Sargeant at $547,800, the typical annual property tax bill reaches $3,072, surpassing the national median of $2,690. Property taxes in Sargeant are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sargeant'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 Sargeant or another part of Dodge County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sargeant, 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 Sargeant Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Sargeant. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Sargeant to provide an accurate estimate of your property tax bill. This valuable tool helps you gain a clear understanding of potential tax liabilities. For those interested in more granular information, localized trends are available further down the page. Your property’s assessed value is determined by Dodge County for property tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Sargeant, Minnesota
Property taxes in Sargeant, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sargeant is 0.59%, lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Sargeant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sargeant 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 Sargeant's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55973 zip code has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Sargeant 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 Sargeant Tax Rate
0.59%
Average Dodge County Tax Rate
1.28%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sargeant, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55973 | 0.37% | 0.49% | 0.59% | 0.69% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Sargeant, Minnesota
In Sargeant, 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 Sargeant, 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 Sargeant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,072, found in zip code 55973.
Average Sargeant Assessed Value
$547,800
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 Sargeant, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55973 | $367,200 | $439,550 | $547,800 | $983,050 | $1,900,350 |
Source: Ownwell
Property Tax Bills Across Sargeant, Minnesota
In Sargeant, Dodge County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Sargeant, the median home price is $547,800. Tax bills can vary significantly, with the 25th percentile at $2,754 and the 75th percentile at $3,609. The highest median tax bill in the area is $3,072, applicable to the 55973 zip code. Factors such as property improvements, changes in market conditions, and local government budgets can influence the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Sargeant may experience higher or lower tax burdens based on these variables. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average Sargeant Tax Bill
$3,072
Average Dodge County Tax Bill
$3,286
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Sargeant, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55973 | $2,421 | $2,754 | $3,072 | $3,609 | $8,205 |
Source: Ownwell