Wendell, Minnesota Property Taxes
The median property tax rate in Wendell, MN is 0.88%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $113,700 in Wendell, the typical annual property tax bill amounts to $1,289, falling below the national median of $2,690. Property taxes in Wendell are determined based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. By gaining a thorough understanding of Wendell's property tax system, exploring available exemptions, and identifying potential reductions, homeowners and real estate investors can achieve substantial annual savings. Whether residing in the heart of Wendell or elsewhere in Grant County, comprehending the local property tax system is advantageous for all property owners.
Last Updated June 14, 2024
Wendell, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Wendell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wendell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wendell 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 Wendell, Minnesota
Property taxes in Wendell, Minnesota, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wendell is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Wendell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wendell 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 Wendell's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56590 has both the highest and lowest median property tax rate of 0.88%, reflecting a uniformity in tax rates within Wendell. Understanding how these rates compare with Wendell 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 Wendell Tax Rate
0.88%
Average Grant County Tax Rate
0.87%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wendell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56590 | 0.44% | 0.66% | 0.88% | 1.27% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Wendell, Minnesota
In Wendell, 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 Wendell, 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. The median home price in Wendell is $113,700, with tax bills ranging from $626 at the 25th percentile to $3,339 at the 90th percentile. The zip code with the highest and lowest median tax bill is 56590, both at $1,289. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wendell Assessed Value
$113,700
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 Wendell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56590 | $33,760 | $62,275 | $113,700 | $289,475 | $847,910 |
Source: Ownwell
Property Tax Bills Across Wendell, Minnesota
In Wendell, located in Grant County, MN, property tax bills are determined based on the assessed value of a property. The median home price in Wendell is $113,700, which serves as a baseline for calculating the tax bill. The property tax rate in this area is compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, homeowners in Wendell can expect their tax bills to vary significantly. The 25th percentile tax bill is around $626, while the 75th percentile tax bill reaches up to $2,248. At the 90th percentile, tax bills can be as high as $3,339. This variation highlights the importance of the assessed value and local tax policies in determining the financial impact on homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Wendell Tax Bill
$1,289
Average Grant County Tax Bill
$1,600
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Wendell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56590 | $356 | $626 | $1,289 | $2,248 | $3,339 |
Source: Ownwell