Manchester, Minnesota Property Taxes
The median property tax rate in Manchester, MN is 2.72%, significantly higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Manchester, the typical annual property tax bill reaches $1,237, surpassing the national median of $2,690. Property taxes in Manchester 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 Manchester'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 Manchester 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
Manchester, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.72%
Estimate Property Tax Bill
$1,108
Ownwell’s Manchester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manchester 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 Manchester, Minnesota
Property taxes in Manchester, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manchester is 2.72%, significantly higher than the U.S. national median of 0.99%. Local government entities within Manchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manchester 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 Manchester's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56007 zip code has the highest median property tax rate of 2.72%, while the same zip code also has the lowest median tax rate of 2.72%. Understanding how these cities compare with Manchester 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 Manchester Tax Rate
2.72%
Average Freeborn County Tax Rate
1.25%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manchester, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56007 | 1.64% | 2.03% | 2.72% | 3.73% | 5.08% |
Source: Ownwell
Property Tax Assessment Values Across Manchester, Minnesota
In Manchester, 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 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 Manchester, 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 Manchester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Manchester, the highest median tax bill is $1,237 in the 56007 zip code, which also has the lowest median tax bill at $1,237.
Average Manchester Assessed Value
$40,750
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 Manchester, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56007 | $13,710 | $24,975 | $40,750 | $60,225 | $76,590 |
Source: Ownwell
Property Tax Bills Across Manchester, Minnesota
In Manchester, located in Freeborn County, MN, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the property's market value, and the local tax rate is applied to this value to calculate the tax bill. Homeowners in Manchester can expect a median home price of $40,750, which plays a significant role in determining their property tax obligations. The property tax rate in Manchester is assessed based on various factors, including the local government's budget needs, school district funding, and public service requirements. For homeowners, this means that their annual tax bill can vary widely. For instance, the 25th percentile of tax bills is around $880, while the 75th percentile reaches $1,626. At the higher end, the 90th percentile of tax bills can be as much as $2,196. These property taxes significantly impact homeowners by contributing to essential community services and infrastructure, but they also represent a notable expense that must be budgeted for annually.
Average Manchester Tax Bill
$1,237
Average Freeborn County Tax Bill
$1,666
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Manchester, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56007 | $605 | $880 | $1,237 | $1,626 | $2,196 |
Source: Ownwell