Wilder, Minnesota Property Taxes
The median property tax rate in Wilder, MN is 1.42%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Wilder, the typical annual property tax bill reaches $34, exceeding the national median of $2,690. Property taxes in Wilder 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 Wilder'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 Wilder 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
Wilder, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Wilder Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilder with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilder 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 Wilder, Minnesota
Property taxes in Wilder, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilder is 1.42%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Wilder set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilder 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 Wilder's effective property tax rate to other areas in Minnesota and the national median. For comparison, the 56101 zip code has the highest median property tax rate of 1.42%, while the same zip code also has the lowest median tax rate of 1.42%. Understanding how these areas compare with Wilder 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 Wilder Tax Rate
1.42%
Average Jackson County Tax Rate
1.05%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilder, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56101 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Wilder, Minnesota
In Wilder, 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. In Wilder, 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 Wilder helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wilder Assessed Value
$2,400
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 Wilder, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56101 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 |
Source: Ownwell
Property Tax Bills Across Wilder, Minnesota
In Wilder, located in Jackson County, MN, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and reflects the market value of the property. Once the property's assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Wilder, the median home price is $2,400, which is significantly lower than the national median. Consequently, the property tax bills reflect this lower valuation. The tax bills in the 25th, 75th, and 90th percentiles are all reported at $34, indicating a consistent tax rate across different property values. This system ensures that property taxes are proportionate to the value of the property, providing a fair method for funding local services such as schools, public safety, and infrastructure. Homeowners in Wilder benefit from relatively low property taxes compared to the national median property tax rate of 0.99%, making it an affordable place to own a home.
Average Wilder Tax Bill
$34
Average Jackson County Tax Bill
$1,463
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilder, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56101 | $34 | $34 | $34 | $34 | $34 |
Source: Ownwell