Garfield, Minnesota Property Taxes
The median property tax rate in Garfield, MN is 0.83%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Garfield at $294,750, the typical annual property tax bill reaches $2,298, falling below the national median of $2,690. Property taxes in Garfield 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 Garfield'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 Garfield 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
Garfield, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$2,446
Ownwell's Garfield Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Garfield with just two key data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Garfield to estimate your property tax bill. This valuable tool helps you gain a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available further down the page. Your property's assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Garfield, Minnesota
Property taxes in Garfield, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garfield is 0.83%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Garfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garfield 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 Garfield's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56332 has the highest median property tax rate of 0.83%, while the lowest median tax rate is also 0.83% in the same zip code. Understanding how these cities compare with Garfield 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 Garfield Tax Rate
0.83%
Average Douglas County Tax Rate
0.86%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garfield, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56332 | 0.48% | 0.77% | 0.83% | 0.96% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Garfield, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Garfield, Minnesota. 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 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 Garfield, 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 Garfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 56332, both at $2,298.
Average Garfield Assessed Value
$294,750
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 Garfield, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56332 | $31,460 | $141,175 | $294,750 | $425,650 | $601,700 |
Source: Ownwell
Property Tax Bills Across Garfield, Minnesota
In Garfield, located in Douglas County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Garfield is $294,750. Property taxes are determined by multiplying the assessed home value by the local tax rate, which varies within the county. Factors that influence the tax bill include the home's assessed value, any applicable exemptions, and local levy rates. For example, property tax bills in Garfield range significantly, with the 25th percentile at $1,236 and the 75th percentile reaching $3,281. At the 90th percentile, homeowners could see bills as high as $4,528. These tax bills impact homeowners by influencing their overall housing costs. Higher property taxes can affect affordability and the long-term financial planning of residents. Compared to the national median property tax rate of 0.99%, Garfield's property taxes can vary widely, reflecting the diverse property values and tax rates in the area.
Average Garfield Tax Bill
$2,298
Average Douglas County Tax Bill
$2,330
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Garfield, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56332 | $367 | $1,236 | $2,298 | $3,281 | $4,528 |
Source: Ownwell