Darwin, Minnesota Property Taxes
The median property tax rate in Darwin, MN is 0.78%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Darwin, the typical annual property tax bill reaches $2,446, falling below the national median of $2,690. Property taxes in Darwin are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Darwin'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 Darwin 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
Darwin, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$2,524
Ownwell’s Darwin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Darwin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Darwin 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 Darwin, Minnesota
Property taxes in Darwin, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Darwin is 0.78%, lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Darwin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Darwin 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 Darwin's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55324 zip code has the highest median property tax rate of 0.78%, while the 55324 zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Darwin provides valuable insights into the varying tax landscape across Meeker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Darwin Tax Rate
0.78%
Average Meeker County Tax Rate
0.88%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Darwin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55324 | 0.60% | 0.70% | 0.78% | 0.89% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Darwin, Minnesota
In Darwin, 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 Meeker 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 Darwin, 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 Darwin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Darwin both stand at $2,446 in zip code 55324.
Average Darwin Assessed Value
$323,600
Average Meeker County Assessed Value
$230,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Darwin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55324 | $83,800 | $189,225 | $323,600 | $463,325 | $635,680 |
Source: Ownwell
Property Tax Bills Across Darwin, Minnesota
In Darwin, located in Meeker County, MN, property tax bills are calculated based on the assessed value of a property. The county assessor determines this value, which is then used to calculate the tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or changes made to it. The tax rate in Darwin is applied to the assessed value to determine the annual tax bill. For example, with a median home price of $323,600, the tax bills can vary widely. Homeowners in the 25th percentile can expect to pay around $1,324, while those in the 75th percentile might see bills closer to $3,752. The highest tax bills, in the 90th percentile, can reach up to $5,104. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the rates in Darwin reflect the specific needs and budgetary requirements of the local community, directly impacting homeowners' annual expenses.
Average Darwin Tax Bill
$2,446
Average Meeker County Tax Bill
$2,075
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Darwin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55324 | $615 | $1,324 | $2,446 | $3,752 | $5,104 |
Source: Ownwell