Shevlin, Minnesota Property Taxes
The median property tax rate in Shevlin, MN is 0.69%, 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 $592,900 in Shevlin, the typical annual property tax bill amounts to $4,068, significantly surpassing the national median of $2,690. Property taxes in Shevlin are determined based on the tax assessed value, which is often less than the market value due to various exemptions, such as primary residence and agricultural exemptions. Gaining a thorough understanding of Shevlin's property tax system, exploring the available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're situated in Shevlin or another part of Hubbard County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shevlin, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$4,091
Ownwell’s Shevlin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shevlin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shevlin 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 Shevlin, Minnesota
Property taxes in Shevlin, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shevlin is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Shevlin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shevlin 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 Shevlin's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56676 has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these rates compare with Shevlin 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 Shevlin Tax Rate
0.69%
Average Hubbard County Tax Rate
0.75%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shevlin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56676 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Shevlin, Minnesota
In Shevlin, 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 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 Shevlin, 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 Shevlin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Shevlin is $592,900, with the highest and lowest median tax bills both recorded at $4,068 in the zip code 56676.
Average Shevlin Assessed Value
$592,900
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 Shevlin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56676 | $592,900 | $592,900 | $592,900 | $592,900 | $592,900 |
Source: Ownwell
Property Tax Bills Across Shevlin, Minnesota
In Shevlin, located in Hubbard County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Shevlin, the median home price is $592,900, which can result in a property tax bill of approximately $4,068. This figure is consistent across various percentiles, indicating a stable tax rate in the area. The local property tax rate is significantly higher than the national median property tax rate of 0.99%, impacting homeowners by increasing their annual financial obligations. Understanding these factors is crucial for homeowners as it helps them anticipate their annual expenses and plan their finances accordingly. Property taxes fund essential community services such as schools, public safety, and infrastructure, making them a vital component of local governance.
Average Shevlin Tax Bill
$4,068
Average Hubbard County Tax Bill
$1,832
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Shevlin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56676 | $4,068 | $4,068 | $4,068 | $4,068 | $4,068 |
Source: Ownwell