Evansville, Minnesota Property Taxes
The median property tax rate in Evansville, Minnesota is 0.79%, 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 Evansville at $175,400, the typical annual property tax bill is $1,338, falling below the national median of $2,690. Property taxes in Evansville are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. 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
0.79%
Estimate Property Tax Bill
$1,386
Ownwell’s Evansville Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to 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 provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, ensuring you are well-prepared for financial planning. For those interested in neighborhood trends, more localized information is available by scrolling down. Your property’s assessed value, assigned by Grant County, is used for property tax calculations and considers any applicable exemptions.
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 0.79%, 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 zip code 56326 has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Evansville provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Evansville Tax Rate
0.79%
Average Grant County Tax Rate
0.87%
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 | 0.54% | 0.73% | 0.79% | 0.79% | 0.88% |
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 Grant 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 highest median tax bill in the area is $1,338 in the 56326 zip code, while the lowest median tax bill is also $1,338 in the same zip code.
Average Evansville Assessed Value
$175,400
Average Grant County Assessed Value
$166,400
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 | $117,100 | $169,000 | $175,400 | $225,550 | $276,240 |
Source: Ownwell
Property Tax Bills Across Evansville, Minnesota
In Evansville, located in Grant County, MN, property tax bills are calculated based on the assessed value of a home. The median home price in the area is $175,400, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors that influence the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. For homeowners in Evansville, the 25th percentile tax bill is approximately $1,198, while the 75th percentile tax bill reaches around $1,440. At the higher end, the 90th percentile tax bill can be as much as $1,635. The highest and lowest median tax bills in the county are both recorded at $1,338 in the zip code 56326. Compared to the national median property tax rate of 0.99%, the property tax rates in Evansville can vary but remain a crucial factor for homeowners to consider. These taxes fund essential local services, impacting the overall cost of owning a home in the region.
Average Evansville Tax Bill
$1,338
Average Grant County Tax Bill
$1,600
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 | $849 | $1,198 | $1,338 | $1,440 | $1,635 |
Source: Ownwell