Ogilvie, Minnesota Property Taxes
The median property tax rate in Ogilvie, MN is 0.61%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $274,200 in Ogilvie, the typical annual property tax bill amounts to $1,938, which is well below the national median of $2,690. Property taxes in Ogilvie are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Ogilvie'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 Ogilvie or another part of Isanti County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ogilvie, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,673
Ownwell’s Ogilvie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ogilvie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ogilvie 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 Ogilvie, Minnesota
Property taxes in Ogilvie, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ogilvie is 0.69%, which is lower than the Minnesota state median of 1.05% but higher than the U.S. national median of 0.99%. Local government entities within Ogilvie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ogilvie 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 Ogilvie's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56358 zip code 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 cities compare with Ogilvie provides valuable insights into the varying tax landscape across Kanabec County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ogilvie Tax Rate
0.61%
Average Isanti County Tax Rate
0.95%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ogilvie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56358 | 0.24% | 0.41% | 0.61% | 0.83% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Ogilvie, Minnesota
In Ogilvie, 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 Isanti County Assessor 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 Ogilvie, 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 Ogilvie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ogilvie is $274,200, with tax bills ranging from $998 at the 25th percentile to $3,211 at the 90th percentile. The highest and lowest median tax bills are both $1,938, found in zip code 56358.
Average Ogilvie Assessed Value
$274,200
Average Isanti County Assessed Value
$289,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ogilvie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56358 | $114,120 | $224,400 | $274,200 | $405,100 | $446,320 |
Source: Ownwell
Property Tax Bills Across Ogilvie, Minnesota
In Ogilvie, located in Isanti County, MN, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $274,200. The local tax rate is applied to this assessed value to determine the annual tax bill. For example, homeowners in the 25th percentile typically pay around $998 annually, while those in the 75th percentile see bills closer to $3,014. The top 10% of property tax bills can reach up to $3,211. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes fund essential community services such as public schools, infrastructure, and emergency services. For homeowners, understanding these factors is crucial as they directly impact annual expenses. Compared to the national median property tax rate of 0.99%, the rates in Ogilvie reflect the region's specific economic and administrative needs. This variability underscores the importance of staying informed about local property tax policies.
Average Ogilvie Tax Bill
$1,938
Average Isanti County Tax Bill
$2,982
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Ogilvie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56358 | $396 | $998 | $1,938 | $3,014 | $3,211 |
Source: Ownwell