Ogilvie, Minnesota Property Taxes
The median property tax rate in Ogilvie, MN is 1.02%, slightly above the national median of 0.99% but lower than the Minnesota state median of 1.11%. With the median home value in Ogilvie at $240,350, the typical annual property tax bill is $2,178, which is below the national median of $2,690. Property taxes in Ogilvie are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Ogilvie'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 Ogilvie 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
Ogilvie, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,452
Ownwell’s Ogilvie Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ogilvie with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Ogilvie to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available just below. Your property's assessed value, determined by Mille Lacs County, is crucial for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Ogilvie, Minnesota
Property taxes in Ogilvie, Minnesota, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ogilvie is 1.02%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Ogilvie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ogilvie 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 Ogilvie's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56358 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Ogilvie provides valuable insights into the varying tax landscape across Mille Lacs County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ogilvie Tax Rate
1.02%
Average Mille Lacs County Tax Rate
1.02%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ogilvie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56358 | 0.63% | 0.82% | 1.02% | 1.16% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Ogilvie, Minnesota
In Ogilvie, 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 Mille Lacs 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 Ogilvie, 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 Ogilvie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ogilvie is $2,178 in the 56358 zip code, while the lowest median tax bill is also $2,178 in the same zip code, reflecting a uniform tax bill across the area.
Average Ogilvie Assessed Value
$240,350
Average Mille Lacs County Assessed Value
$240,400
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ogilvie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56358 | $67,700 | $160,600 | $240,350 | $336,150 | $429,110 |
Source: Ownwell
Property Tax Bills Across Ogilvie, Minnesota
In Ogilvie, Mille Lacs County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Ogilvie is $240,350, and property taxes are determined by multiplying this assessed value by the local tax rate. Factors such as property size, location, and improvements also influence the assessed value. For homeowners in Ogilvie, the tax bill can vary significantly. For example, the tax bill at the 25th percentile is $1,243, while at the 75th percentile, it rises to $3,262. The top 10% of tax bills can reach up to $4,702. These variations can impact homeowners differently, with higher-valued properties shouldering a larger tax burden. Compared to the national median property tax rate of 0.99%, Ogilvie's tax rates reflect the local economic conditions and public service funding needs, affecting how much homeowners ultimately pay.
Average Ogilvie Tax Bill
$2,178
Average Mille Lacs County Tax Bill
$2,562
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Ogilvie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56358 | $607 | $1,243 | $2,178 | $3,262 | $4,702 |
Source: Ownwell