Evansville, Minnesota Property Taxes
The median property tax rate in Evansville, MN is 0.91%, slightly below the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $169,400 in Evansville, the typical annual property tax bill amounts to $1,770, which is lower than the national median of $2,690. Property taxes in Evansville are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Evansville'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 Evansville 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
Evansville, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,542
Ownwell’s Evansville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Evansville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Evansville 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 Evansville, Minnesota
Property taxes in Evansville, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Evansville is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Evansville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Evansville 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 Evansville's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56326 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Evansville provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Evansville Tax Rate
0.91%
Average Douglas County Tax Rate
0.86%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Evansville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56326 | 0.49% | 0.78% | 0.91% | 1.44% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Evansville, Minnesota
In Evansville, 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 Douglas 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 Evansville, 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 Evansville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Evansville is $169,400, with tax bills ranging from $786 at the 25th percentile to $3,750 at the 90th percentile. The zip code with the highest median tax bill is 56326, at $1,770.
Average Evansville Assessed Value
$169,400
Average Douglas County Assessed Value
$264,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Evansville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56326 | $17,330 | $77,425 | $169,400 | $315,100 | $510,210 |
Source: Ownwell
Property Tax Bills Across Evansville, Minnesota
In Evansville, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Evansville, the median home price stands at $169,400. Homeowners in the 25th percentile can expect a tax bill around $786, while those in the 75th percentile might see bills as high as $2,804. The top 10% of homeowners face tax bills nearing $3,750. These figures are influenced by factors such as property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Evansville's property tax rates reflect the region's specific economic conditions and funding needs. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Evansville Tax Bill
$1,770
Average Douglas County Tax Bill
$2,330
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Evansville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56326 | $208 | $786 | $1,770 | $2,804 | $3,750 |
Source: Ownwell