South Haven, Minnesota Property Taxes
The median property tax rate in South Haven, MN is 0.79%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in South Haven at $322,100, the typical annual property tax bill amounts to $2,572, falling below the national median of $2,690. Property taxes in South Haven are determined based on the tax assessed value, which often remains under the market value due to various exemptions such as those for primary residences and agricultural properties. By gaining a thorough understanding of South Haven's property tax system, investigating available exemptions, and pinpointing opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're situated in the heart of South Haven or another area within the city, a deep comprehension of the local property tax system can provide significant financial benefits.
Last Updated June 14, 2024
South Haven, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$2,545
Ownwell’s South Haven Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Haven with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Haven 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 South Haven, Minnesota
Property taxes in South Haven, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Haven is 0.79%, lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within South Haven set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Haven 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 South Haven's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55382 zip code has both the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with South Haven 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 South Haven Tax Rate
0.79%
Average Meeker County Tax Rate
0.88%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Haven, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55382 | 0.69% | 0.76% | 0.79% | 0.86% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across South Haven, Minnesota
In South Haven, 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 South Haven, 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 South Haven helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in South Haven are both $2,572, found in the 55382 zip code.
Average South Haven Assessed Value
$322,100
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 South Haven, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55382 | $143,300 | $237,400 | $322,100 | $472,100 | $653,000 |
Source: Ownwell
Property Tax Bills Across South Haven, Minnesota
In South Haven, located in Meeker County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property location, size, and any improvements made can influence the assessed value, thereby affecting the tax bill. Homeowners in South Haven can expect a range of property tax bills. For instance, the 25th percentile tax bill is around $1,760, while the 75th percentile tax bill reaches up to $3,770. Those in the 90th percentile might see tax bills as high as $5,464. These figures highlight the variability in tax obligations based on property values. Comparing this to the national median property tax rate of 0.99%, South Haven's tax rates offer a local perspective on the broader national landscape, impacting homeowners' financial planning and property-related decisions.
Average South Haven Tax Bill
$2,572
Average Meeker County Tax Bill
$2,075
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across South Haven, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55382 | $840 | $1,760 | $2,572 | $3,770 | $5,464 |
Source: Ownwell