Dunnell, Minnesota Property Taxes
The median property tax rate in Dunnell, MN is 0.48%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Dunnell at $428,200, the typical annual property tax bill reaches $1,778, which is significantly below the national median of $2,690. Property taxes in Dunnell are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dunnell'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 Dunnell 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
Dunnell, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$2,055
Ownwell’s Dunnell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dunnell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dunnell 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 Dunnell, Minnesota
Property taxes in Dunnell, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dunnell is 0.48%, notably lower than both the Minnesota state median of 1.05% and the U.S. national median of 0.99%. Local government entities within Dunnell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunnell 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 Dunnell's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56127 zip code has both the highest and lowest median property tax rate of 0.48%. Understanding how these cities compare with Dunnell provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunnell Tax Rate
0.48%
Average Jackson County Tax Rate
1.05%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunnell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56127 | 0.41% | 0.43% | 0.48% | 0.90% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Dunnell, Minnesota
In Dunnell, 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 Jackson 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. 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 Dunnell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Dunnell, the zip code with the highest median tax bill is 56127, with a tax bill of $1,778. Conversely, the zip code with the lowest median tax bill is also 56127, with the same tax bill value.
Average Dunnell Assessed Value
$428,200
Average Jackson County Assessed Value
$145,950
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunnell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56127 | $194,040 | $281,850 | $428,200 | $737,600 | $923,240 |
Source: Ownwell
Property Tax Bills Across Dunnell, Minnesota
In Dunnell, located in Jackson County, MN, property tax bills are calculated based on the assessed value of a home. The tax bill is determined by multiplying the assessed value by the local tax rate. For example, with a median home price of $428,200, homeowners can expect a range of tax bills. At the 25th percentile, the tax bill is approximately $1,716, while at the 75th percentile, it rises to around $3,413. The 90th percentile sees tax bills reaching up to $4,394. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. These factors collectively determine the financial burden on homeowners, impacting their annual property expenses. Compared to the national median property tax rate of 0.99%, Dunnell's tax rates and assessed values play a crucial role in shaping the overall tax burden for residents. Understanding these elements helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Dunnell Tax Bill
$1,778
Average Jackson County Tax Bill
$1,463
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunnell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56127 | $1,679 | $1,716 | $1,778 | $3,413 | $4,394 |
Source: Ownwell