Motley, Minnesota Property Taxes
The median property tax rate in Motley, MN is 0.96%, slightly below the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $107,300 in Motley, the typical annual property tax bill is approximately $1,058, which is lower than the national median of $2,690. Property taxes in Motley are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Motley'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 Motley or another part of Morrison County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Motley, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Motley Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Motley. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Motley to provide an accurate estimate of your property tax bill. This valuable resource helps you grasp potential tax liabilities with ease. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county and is used for property tax calculations, including any applicable exemptions.
Property Tax Rates Across Motley, Minnesota
Property taxes in Motley, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Motley is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Motley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Motley 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 Motley's effective property tax rate to other areas in Minnesota and the national median. For comparison, the 56466 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these areas compare with Motley provides valuable insights into the varying tax landscape across Morrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Motley Tax Rate
0.96%
Average Morrison County Tax Rate
0.85%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Motley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56466 | 0.69% | 0.85% | 0.96% | 1.12% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Motley, Minnesota
In Motley, 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 Morrison 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 Motley, 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 Motley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Motley are both $1,058, found in zip code 56466.
Average Motley Assessed Value
$107,300
Average Morrison County Assessed Value
$210,400
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Motley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56466 | $4,700 | $11,700 | $107,300 | $244,300 | $387,150 |
Source: Ownwell
Property Tax Bills Across Motley, Minnesota
In Motley, located in Morrison 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, who evaluates the property's market value. This value is then multiplied by the local tax rate to calculate the tax bill. For instance, with a median home price of $107,300, the tax bill can vary significantly. Homeowners in the 25th percentile might see bills around $130, while those in the 75th percentile face bills up to $2,336. At the 90th percentile, tax bills can reach as high as $3,737. These taxes fund essential services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial, as higher assessed values and tax rates directly impact their annual expenses. Comparing these figures to the national median property tax rate of 0.99%, Motley's property tax rates can offer a sense of the local tax burden relative to the broader national landscape.
Average Motley Tax Bill
$1,058
Average Morrison County Tax Bill
$1,722
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Motley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56466 | $48 | $130 | $1,058 | $2,336 | $3,737 |
Source: Ownwell