Cass Lake, Minnesota Property Taxes
The median property tax rate in Cass Lake, MN is 0.96%, slightly below the national median of 0.99% and significantly lower than Minnesota's state median of 1.11%. With the median home value in Cass Lake at $156,200, the typical annual property tax bill reaches $1,428, which is well below the national median of $2,690. Property taxes in Cass Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Cass Lake'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 Cass Lake or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cass Lake, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,500
Ownwell’s Cass Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cass Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cass Lake 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 Cass Lake, Minnesota
Property taxes in Cass Lake, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cass Lake is 0.96%, which is slightly below the U.S. national median of 0.99%. Local government entities within Cass Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cass Lake 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 Cass Lake's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56633 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Cass Lake provides valuable insights into the varying tax landscape across Hubbard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cass Lake Tax Rate
0.96%
Average Hubbard County Tax Rate
0.75%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cass Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56633 | 0.73% | 0.92% | 0.96% | 1.01% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Cass Lake, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cass Lake, Minnesota. 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 Hubbard 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 Cass Lake, 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 the area is $156,200, with tax bills ranging from $620 at the 25th percentile to $3,379 at the 90th percentile. The highest and lowest median tax bills are both $1,428, found in zip code 56633. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cass Lake Assessed Value
$156,200
Average Hubbard County Assessed Value
$236,000
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cass Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56633 | $27,940 | $69,500 | $156,200 | $275,700 | $355,220 |
Source: Ownwell
Property Tax Bills Across Cass Lake, Minnesota
In Cass Lake, located in Hubbard County, MN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in this region see a range of property tax bills, with the 25th percentile at $620 and the 75th percentile reaching $2,560. The highest median tax bill in the area is $1,428, which is consistent across the zip code 56633. Several factors influence the property tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the rates in Cass Lake may vary, affecting the overall tax burden on homeowners. Higher property values typically result in higher tax bills, impacting affordability and potentially influencing housing decisions. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average Cass Lake Tax Bill
$1,428
Average Hubbard County Tax Bill
$1,832
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Cass Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56633 | $231 | $620 | $1,428 | $2,560 | $3,379 |
Source: Ownwell