Nashwauk, Itasca County, Minnesota Property Taxes
Median Nashwauk, MN effective property tax rate: 0.99%, slightly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Nashwauk, MN home value: $126,750
Median annual Nashwauk, MN tax bill: $1,164, $1,236 lower than the national median property tax bill of $2,400.
How are property taxes in Itasca County calculated?
Property taxes in Nashwauk, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Nashwauk’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Nashwauk, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Nashwauk, Itasca County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.99%
Estimate Property Tax Bill
$1,255
$1,164
Property Tax Rates Across Nashwauk, Itasca County, Minnesota
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation is due to each county's annual estimation of its required budget to provide essential services, divided by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the basic annual process.
In NASHWAUK, located in Itasca County, the effective property tax rate offers an interesting comparison to other cities in Minnesota and the national median. The median property tax rate in Minnesota is slightly below the national median of 1.02%. This means that property owners in NASHWAUK may enjoy a more favorable tax environment compared to other regions. Understanding these differences can be crucial for homeowners and potential buyers when considering property investments. It highlights the importance of being aware of local tax rates and how they can impact overall property costs.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Nashwauk Tax Rate
0.99%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Itasca County Tax Rate
0.93%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Nashwauk, Itasca County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55769 | 0.58% | 0.82% | 0.99% | 1.05% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Nashwauk, Itasca County, Minnesota
When examining property taxes in Nashwauk, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Itasca County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Itasca County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Nashwauk.
For example, the median home price in Nashwauk is $126,750, with tax bills ranging significantly across the county. Zip code 55769 has the highest median home price at $126,750.
Property Tax Assessment Values Across Nashwauk, Itasca County, Minnesota
Source: Ownwell
$63,650
$153,175
$242,700
Median Nashwauk Market Value
$126,750
Median Itasca County Market Value
$169,300
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Nashwauk, Itasca County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55769 | $38,130 | $68,650 | $126,750 | $222,025 | $308,540 |
Source: Ownwell
Property Tax Bills Across Nashwauk, Itasca County, Minnesota
Median Nashwauk Tax Bill
$1,164
Median Itasca County Tax Bill
$1,502
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Nashwauk, Itasca County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55769 | $258 | $594 | $1,164 | $2,054 | $3,162 |
Source: Ownwell