Waubun, Minnesota Property Taxes
The median property tax rate in Waubun, MN is 1.07%, slightly above the national median of 0.99% but below the Minnesota state median of 1.11%. With the median home value in Waubun at $128,600, the typical annual property tax bill amounts to $1,317, which is lower than the national median of $2,690. Property taxes in Waubun are determined based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Waubun'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 Waubun or another part of Mahnomen County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waubun, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,376
Ownwell’s Waubun Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waubun with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waubun 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 Mahnomen County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Waubun, Minnesota
Property taxes in Waubun, Minnesota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Waubun is 1.07%, which is higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Waubun set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waubun 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 Waubun's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56589 has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Waubun 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 Waubun Tax Rate
1.07%
Average Mahnomen County Tax Rate
1.01%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waubun, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56589 | 0.70% | 0.85% | 1.07% | 1.28% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Waubun, Minnesota
In Waubun, 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. In Waubun, 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 Waubun helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Waubun is $128,600, with the highest median tax bill found in zip code 56589 at $1,317.
Average Waubun Assessed Value
$128,600
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 Waubun, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56589 | $35,470 | $66,775 | $128,600 | $215,425 | $346,170 |
Source: Ownwell
Property Tax Bills Across Waubun, Minnesota
Property tax bills in Waubun, located in Mahnomen County, MN, are calculated based on the assessed value of a property. The assessed value is determined by local assessors who evaluate the market value of the home. Homeowners in Waubun face property tax bills that can vary significantly. For instance, the 25th percentile tax bill is around $780, while the 75th percentile tax bill reaches approximately $2,072. At the higher end, the 90th percentile tax bill can climb up to $2,999. The median home price in Waubun is $128,600, which influences the overall property tax calculation. Homeowners with properties assessed at this value can expect their tax bills to fall within this range. Compared to the national median property tax rate of 0.99%, Waubun's tax rates can be seen as relatively moderate. These property taxes play a crucial role in funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Waubun Tax Bill
$1,317
Average Mahnomen County Tax Bill
$1,156
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Waubun, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56589 | $403 | $780 | $1,317 | $2,072 | $2,999 |
Source: Ownwell