Naytahwaush, Minnesota Property Taxes
The median property tax rate in Naytahwaush, MN is 0.96%, slightly below the national median of 0.99% and significantly lower than the Minnesota state median of 1.11%. With a median home value of $161,950 in Naytahwaush, the typical annual property tax bill is around $1,589, which is well below the national median of $2,690. Property taxes in Naytahwaush are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Naytahwaush's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Naytahwaush or another part of Mahnomen County, understanding the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Naytahwaush, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,555
Ownwell’s Naytahwaush Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Naytahwaush with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Naytahwaush 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 Naytahwaush, Minnesota
Property taxes in Naytahwaush, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Naytahwaush is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Naytahwaush set these rates annually, and they can vary significantly across different neighborhoods. Each year, Naytahwaush 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 Naytahwaush's effective property tax rate to other areas in Mahnomen County and the national median. For comparison, the 56566 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these areas compare with Naytahwaush provides valuable insights into the varying tax landscape across Mahnomen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Naytahwaush Tax Rate
0.96%
Average Mahnomen County Tax Rate
1.01%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Naytahwaush, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56566 | 0.61% | 0.71% | 0.96% | 1.09% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Naytahwaush, Minnesota
In Naytahwaush, 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 Mahnomen 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 in Naytahwaush 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 Naytahwaush helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in the area is 56566, with a median tax bill of $1,589.
Average Naytahwaush Assessed Value
$161,950
Average Mahnomen County Assessed Value
$124,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Naytahwaush, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56566 | $45,450 | $79,325 | $161,950 | $277,200 | $548,600 |
Source: Ownwell
Property Tax Bills Across Naytahwaush, Minnesota
In Naytahwaush, located in Mahnomen County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in this area stands at $161,950. Homeowners can expect tax bills to vary significantly, with the 25th percentile at $806 and the 75th percentile reaching $2,523. For those in the higher end, the 90th percentile tax bill can climb up to $5,112. Factors that influence these tax bills include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, homeowners in Naytahwaush experience a wide range of tax burdens, reflecting the diversity in property values and individual circumstances. This variability underscores the importance of understanding how local assessments and tax rates impact overall tax obligations, helping homeowners to better anticipate and manage their annual property tax expenses.
Average Naytahwaush Tax Bill
$1,589
Average Mahnomen County Tax Bill
$1,156
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Naytahwaush, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56566 | $378 | $806 | $1,589 | $2,523 | $5,112 |
Source: Ownwell