Marcell, Minnesota Property Taxes
The median property tax rate in Marcell, MN is 0.97%, slightly below the national median of 0.99% and significantly lower than the Minnesota state median of 1.11%. With a median home value of $182,900 in Marcell, the typical annual property tax bill is $1,636, which is well below the national median of $2,690. Property taxes in Marcell are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Marcell's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're located in the heart of Marcell or elsewhere in the city, gaining insight into the local property tax system can be highly beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Marcell, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,774
Ownwell’s Marcell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marcell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marcell 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 Marcell, Minnesota
Property taxes in Marcell, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marcell is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Marcell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marcell 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 Marcell's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56657 has both the highest and lowest median property tax rate of 0.97%, matching Marcell's rate. Understanding how these cities compare with Marcell provides valuable insights into the varying tax landscape across Itasca County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marcell Tax Rate
0.97%
Average Itasca County Tax Rate
0.93%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marcell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56657 | 0.78% | 0.89% | 0.97% | 1.00% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Marcell, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Marcell, 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 Itasca 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. Assessment notices are typically mailed out in the spring, usually by mid-April, providing 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 Marcell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Marcell both stand at $1,636, with the zip code 56657.
Average Marcell Assessed Value
$182,900
Average Itasca County Assessed Value
$169,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marcell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56657 | $54,450 | $101,100 | $182,900 | $324,350 | $473,570 |
Source: Ownwell
Property Tax Bills Across Marcell, Minnesota
In Marcell, property tax bills are calculated based on the assessed value of the property and the local tax rate set by Itasca County. The assessed value is determined by the county assessor, who evaluates the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and market conditions are taken into account during the assessment. For homeowners in Marcell, the median home price is $182,900. Property tax bills can vary significantly, with the 25th percentile at $926 and the 75th percentile reaching $2,980. At the 90th percentile, property owners might see tax bills as high as $4,472. These taxes fund essential local services like schools, public safety, and infrastructure, directly impacting community quality of life. Comparatively, the median property tax rate in Marcell aligns closely with the national median of 0.99%, ensuring that homeowners contribute fairly to the local economy while maintaining their property investments.
Average Marcell Tax Bill
$1,636
Average Itasca County Tax Bill
$1,502
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Marcell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56657 | $498 | $926 | $1,636 | $2,980 | $4,472 |
Source: Ownwell