Ogilvie, Minnesota Property Taxes
The median property tax rate in Ogilvie, MN is 1.17%, notably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Ogilvie at $190,500, the typical annual property tax bill reaches $2,202, which exceeds the national median of $2,690. Property taxes in Ogilvie are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Ogilvie'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 Ogilvie 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
Ogilvie, 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 Ogilvie Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Ogilvie with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Ogilvie to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, ensuring you are well-prepared for any financial obligations. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Kanabec County and accounts for any applicable exemptions, providing a clear picture of your tax responsibilities.
Property Tax Rates Across Ogilvie, Minnesota
Property taxes in Ogilvie, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ogilvie is 1.17%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Ogilvie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ogilvie 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 Ogilvie's effective property tax rate to other areas in Minnesota and the national median. For comparison, the 56358 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these areas compare with Ogilvie provides valuable insights into the varying tax landscape across Kanabec County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ogilvie Tax Rate
1.17%
Average Kanabec County Tax Rate
1.11%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ogilvie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56358 | 0.81% | 1.05% | 1.17% | 1.26% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Ogilvie, Minnesota
In Ogilvie, 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 Kanabec 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 Ogilvie, 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 Ogilvie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Kanabec County, the zip code 56358 has the highest and lowest median tax bill, both at $2202, reflecting a balanced tax environment.
Average Ogilvie Assessed Value
$190,500
Average Kanabec County Assessed Value
$192,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ogilvie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56358 | $30,800 | $102,900 | $190,500 | $289,700 | $382,800 |
Source: Ownwell
Property Tax Bills Across Ogilvie, Minnesota
In Ogilvie, located in Kanabec County, MN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $190,500, homeowners can expect their tax bills to vary significantly depending on various factors such as property location and specific local levies. Homeowners in Ogilvie may see tax bills ranging from $1,230 at the 25th percentile to $4,390 at the 90th percentile. This variation is influenced by the property's assessed value and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the tax rates in Ogilvie can have a considerable impact on a homeowner's annual expenses. Understanding these factors is crucial for homeowners to budget effectively and plan for their financial obligations.
Average Ogilvie Tax Bill
$2,202
Average Kanabec County Tax Bill
$2,112
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Ogilvie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56358 | $467 | $1,230 | $2,202 | $3,264 | $4,390 |
Source: Ownwell