Upsala, Minnesota Property Taxes
The median property tax rate in Upsala, MN is 1.44%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Upsala at $151,200, the typical annual property tax bill reaches $2,101, which is below the national median of $2,690. Property taxes in Upsala are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Upsala'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 Upsala 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
Upsala, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$2,177
Ownwell’s UPSALA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in UPSALA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in UPSALA 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 Upsala, Minnesota
Property taxes in Upsala, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Upsala is 1.44%, notably higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Upsala set these rates annually, and they can vary significantly across different neighborhoods. Each year, Upsala 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 Upsala's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56384 zip code has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Upsala 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 Upsala Tax Rate
1.44%
Average Morrison County Tax Rate
0.85%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Upsala, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56384 | 1.14% | 1.28% | 1.44% | 1.61% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Upsala, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Upsala, Minnesota. 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 Upsala, 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. For instance, the median home price in Upsala is $151,200, with tax bills ranging from $1,490 at the 25th percentile to $4,083 at the 90th percentile. Notably, the zip code 56384 has both the highest and lowest median tax bill at $2,101. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Upsala Assessed Value
$151,200
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 Upsala, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56384 | $28,900 | $107,800 | $151,200 | $199,600 | $295,600 |
Source: Ownwell
Property Tax Bills Across Upsala, Minnesota
In Upsala, located in Morrison 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 Upsala is $151,200, which is used as a baseline for determining tax obligations. The local tax rate is applied to this assessed value to calculate the annual tax bill. For instance, homeowners in the 25th percentile pay around $1,490, while those in the 75th percentile can expect to pay approximately $2,994. Several factors influence these tax bills, including property size, location, and any applicable exemptions. The highest median tax bill in the area is $2,101, and this applies to specific zip codes, such as 56384. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how local rates measure up. These tax obligations can significantly impact homeowners, affecting their annual budget and long-term financial planning.
Average Upsala Tax Bill
$2,101
Average Morrison County Tax Bill
$1,722
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Upsala, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56384 | $506 | $1,490 | $2,101 | $2,994 | $4,083 |
Source: Ownwell