Mabel, Minnesota Property Taxes
The median property tax rate in Mabel, MN is 0.72%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Mabel at $214,400, the typical annual property tax bill reaches $1,447, significantly below the national median of $2,690. Property taxes in Mabel are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Mabel's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mabel 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
Mabel, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,544
Ownwell’s Mabel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mabel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mabel 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 Mabel, Minnesota
Property taxes in Mabel, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mabel is 1.09%, higher than both the Minnesota state median of 1.02% and the U.S. national median of 0.99%. Local government entities within Mabel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mabel 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 Mabel's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55954 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Mabel 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 Mabel Tax Rate
0.72%
Average Houston County Tax Rate
1.20%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mabel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55954 | 0.34% | 0.56% | 0.72% | 0.87% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Mabel, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mabel, Minnesota. 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 local 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 Mabel, 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. The median home price in Mabel is $214,400, with tax bills ranging widely. For instance, the 25th percentile tax bill is $704, while the 75th percentile tax bill is $2,434, and the 90th percentile tax bill reaches $3,847. The highest and lowest median tax bills, both at $1,447, are found in the 55954 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mabel Assessed Value
$214,400
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 Mabel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55954 | $70,780 | $94,075 | $214,400 | $411,775 | $660,290 |
Source: Ownwell
Property Tax Bills Across Mabel, Minnesota
In Mabel, located in Houston County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Mabel is $214,400. Property taxes are determined by multiplying the assessed value by the local tax rate, which is designed to meet the funding needs of public services such as schools, infrastructure, and emergency services. For homeowners in Mabel, the property tax bill can vary significantly. The 25th percentile tax bill is around $704, while the 75th percentile reaches up to $2,434. At the 90th percentile, homeowners can expect to pay approximately $3,847. This range illustrates how property values and the corresponding taxes can differ within the community. Comparing these figures to the national median property tax rate of 0.99%, homeowners in Mabel might find their tax bills either lower or higher than the national average, depending on their property's assessed value and specific circumstances. This variability highlights the importance of understanding local property tax assessments and their impact on household finances.
Average Mabel Tax Bill
$1,447
Average Houston County Tax Bill
$2,534
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Mabel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55954 | $448 | $704 | $1,447 | $2,434 | $3,847 |
Source: Ownwell