Kiester, Minnesota Property Taxes
The median property tax rate in Kiester, MN is 0.96%, slightly lower than the national median of 0.99% and significantly below the Minnesota state median of 1.11%. With the median home value in Kiester at $182,050, the typical annual property tax bill reaches $1,832, which is also lower than the national median of $2,690. Property taxes in Kiester are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Kiester'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 Kiester or another part of Freeborn County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kiester, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,748
Ownwell’s Kiester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kiester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kiester 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 Kiester, Minnesota
Property taxes in Kiester, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kiester is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Kiester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kiester 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 Kiester's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56051 has the highest median property tax rate of 0.96%, while the lowest median tax rate is also 0.96%. Understanding how these cities compare with Kiester provides valuable insights into the varying tax landscape across Freeborn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kiester Tax Rate
0.96%
Average Freeborn County Tax Rate
1.25%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kiester, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56051 | 0.82% | 0.87% | 0.96% | 1.05% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Kiester, Minnesota
In Kiester, Minnesota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Freeborn 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 Kiester, 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 Kiester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 56051 has both the highest and lowest median tax bill, which is $1,832.
Average Kiester Assessed Value
$182,050
Average Freeborn County Assessed Value
$133,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kiester, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56051 | $146,730 | $159,975 | $182,050 | $204,125 | $217,370 |
Source: Ownwell
Property Tax Bills Across Kiester, Minnesota
In Kiester, located in Freeborn County, MN, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local tax assessors who evaluate various factors, including the home's market value, location, and any improvements made. The tax rate is then applied to this assessed value to determine the annual property tax bill. For homeowners in Kiester, the median home price stands at $182,050. Based on this, property tax bills can vary significantly. The 25th percentile tax bill is approximately $1,454, while the 75th percentile tax bill reaches around $2,210. For those in the 90th percentile, the tax bill climbs to $2,437. These figures illustrate the range of property tax obligations homeowners might face, depending on the specific valuation of their property. Compared to the national median property tax rate of 0.99%, Kiester's tax rates are reflective of the local real estate market and municipal funding needs.
Average Kiester Tax Bill
$1,832
Average Freeborn County Tax Bill
$1,666
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Kiester, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56051 | $1,227 | $1,454 | $1,832 | $2,210 | $2,437 |
Source: Ownwell