Hawick, Minnesota Property Taxes
The median property tax rate in Hawick, MN is 0.90%, slightly below the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $274,450 in Hawick, the typical annual property tax bill amounts to $2,414, which is lower than the national median of $2,690. Property taxes in Hawick are based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Hawick'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 Hawick or elsewhere in the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hawick, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$2,470
Ownwell’s Hawick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hawick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hawick 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 Hawick, Minnesota
Property taxes in Hawick, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hawick is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Hawick set these rates annually, which can vary across different neighborhoods. Each year, Hawick 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 Hawick's effective property tax rate to other areas in Kandiyohi County and the national median. For comparison, the zip code 56273 has the same median property tax rate of 0.90%. Understanding how these areas compare with Hawick provides valuable insights into the varying tax landscape across Kandiyohi County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hawick Tax Rate
0.90%
Average Kandiyohi County Tax Rate
1.04%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hawick, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56273 | 0.58% | 0.80% | 0.90% | 0.98% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Hawick, Minnesota
In Hawick, 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 Kandiyohi 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 Hawick, 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. The median home price in Hawick is $274,450, with tax bills ranging from $1,324 at the 25th percentile to $4,580 at the 90th percentile. Zip code 56273 has the highest and lowest median tax bill at $2,414. 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 Hawick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hawick Assessed Value
$274,450
Average Kandiyohi County Assessed Value
$222,850
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hawick, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56273 | $68,960 | $153,975 | $274,450 | $397,250 | $535,730 |
Source: Ownwell
Property Tax Bills Across Hawick, Minnesota
In Hawick, located in Kandiyohi County, MN, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in this area is $274,450, and the property tax rate is applied to this value to calculate the annual tax bill. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Hawick can expect varying property tax bills depending on their property's value. For instance, the 25th percentile tax bill is around $1,324, while the 75th percentile reaches up to $3,404. Those in the 90th percentile may see tax bills as high as $4,580. These figures illustrate the range of property taxes homeowners might encounter, significantly impacting their annual financial planning. Compared to the national median property tax rate of 0.99%, Hawick's tax rates reflect the local economic conditions and funding needs for public services.
Average Hawick Tax Bill
$2,414
Average Kandiyohi County Tax Bill
$2,360
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Hawick, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56273 | $470 | $1,324 | $2,414 | $3,404 | $4,580 |
Source: Ownwell