Zimmerman, Minnesota Property Taxes
The median property tax rate in Zimmerman, MN is 0.82%, 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 Zimmerman at $356,600, the typical annual property tax bill reaches $2,866, slightly exceeding the national median of $2,690. Property taxes in Zimmerman are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Zimmerman’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 Zimmerman 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
Zimmerman, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$2,924
Ownwell’s Zimmerman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Zimmerman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Zimmerman 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 Zimmerman, Minnesota
Property taxes in Zimmerman, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Zimmerman is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Zimmerman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Zimmerman 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 Zimmerman's effective property tax rate to other areas and the national median. For comparison, the zip code 55398 has both the highest and lowest median property tax rate of 0.82%. Understanding how these cities compare with Zimmerman provides valuable insights into the varying tax landscape across Isanti County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Zimmerman Tax Rate
0.82%
Average Isanti County Tax Rate
0.95%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Zimmerman, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55398 | 0.41% | 0.75% | 0.82% | 0.96% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Zimmerman, Minnesota
In Zimmerman, 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 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 Zimmerman, 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 Zimmerman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 55398 has both the highest and lowest median tax bill, standing at $2,866, which provides a balanced view of property tax expectations in the area.
Average Zimmerman Assessed Value
$356,600
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 Zimmerman, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55398 | $106,900 | $262,600 | $356,600 | $512,800 | $645,960 |
Source: Ownwell
Property Tax Bills Across Zimmerman, Minnesota
In Zimmerman, located in Isanti County, MN, property tax bills are calculated based on the assessed value of a home. The local tax authority determines this value, which is then multiplied by the local tax rate to produce the annual tax bill. For homeowners in this area, the median home price is approximately $356,600. The property tax rate in Zimmerman is notably higher than the national median rate of 0.99%. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, tax bills in Zimmerman range significantly, with the 25th percentile paying around $1,930, while the 75th percentile faces bills of approximately $4,070. At the higher end, the 90th percentile sees tax bills reaching up to $5,612. These property taxes directly impact homeowners by affecting their overall housing costs and financial planning. High property taxes can be a burden but also reflect the community's investment in public services and infrastructure.
Average Zimmerman Tax Bill
$2,866
Average Isanti County Tax Bill
$2,982
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Zimmerman, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55398 | $456 | $1,930 | $2,866 | $4,070 | $5,612 |
Source: Ownwell