Houston, Minnesota Property Taxes
The median property tax rate in Houston, MN is 1.13%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Houston, the typical annual property tax bill reaches $2,345, slightly below the national median of $2,690. Property taxes in Houston 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 Houston'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 Houston 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
Houston, 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 Houston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Houston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Houston 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 Houston, Minnesota
Property taxes in Houston, Minnesota, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Houston stands at 1.13%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Houston set these rates annually, and they can vary across different neighborhoods. Each year, Houston estimates its required budget to maintain services for the upcoming fiscal year and 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. Understanding how Houston's effective property tax rate compares with other areas provides valuable insights into the varying tax landscape across Houston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Houston Tax Rate
1.13%
Average Houston County Tax Rate
1.20%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Houston, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55943 | 0.42% | 0.75% | 1.13% | 1.44% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Houston, Minnesota
In Houston, 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 Houston 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. Assessment notices in Houston 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 Houston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Houston is $197,000, with the highest median tax bill found in zip code 55943 at $2,345.
Average Houston Assessed Value
$197,000
Average Houston County Assessed Value
$221,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Houston, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55943 | $58,900 | $126,400 | $197,000 | $299,450 | $504,460 |
Source: Ownwell
Property Tax Bills Across Houston, Minnesota
In Houston, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. For example, the median home price in Houston is $197,000, with property tax bills ranging significantly. At the 25th percentile, homeowners can expect to pay around $1,454, while those at the 75th percentile might see bills closer to $3,184. The highest median tax bill in the area is $2,345, which is considerably higher than the national median property tax rate of 0.99%. Homeowners in Houston should be aware that their property taxes can vary widely depending on their specific circumstances. High property taxes can impact affordability, making it crucial for homeowners to understand how their tax bills are determined and to explore potential exemptions or appeals if they believe their assessment is incorrect.
Average Houston Tax Bill
$2,345
Average Houston County Tax Bill
$2,534
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Houston, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55943 | $818 | $1,454 | $2,345 | $3,184 | $4,167 |
Source: Ownwell