Plummer, Minnesota Property Taxes
The median property tax rate in Plummer, MN is 0.68%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Plummer at $293,100, the typical annual property tax bill is $1,769, which is well below the national median of $2,690. Property taxes in Plummer are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Plummer'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 Plummer 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
Plummer, 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 Plummer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plummer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plummer 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 Plummer, Minnesota
Property taxes in Plummer, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plummer is 1.09%, higher than both the Minnesota state median of 1.08% and the U.S. national median of 0.99%. Local government entities within Plummer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plummer 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 Plummer's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56748 zip code has the highest median property tax rate of 1.09%, while the 56748 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Plummer provides valuable insights into the varying tax landscape across Pennington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plummer Tax Rate
0.68%
Average Pennington County Tax Rate
1.13%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plummer, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56748 | 0.41% | 0.45% | 0.68% | 0.86% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Plummer, Minnesota
In Plummer, 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 Pennington 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 Plummer, 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. For example, the highest median tax bill in Plummer is $1,769 in the 56748 zip code, which is also the zip code with the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Plummer Assessed Value
$293,100
Average Pennington County Assessed Value
$156,700
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Plummer, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56748 | $130,750 | $217,975 | $293,100 | $362,850 | $420,520 |
Source: Ownwell
Property Tax Bills Across Plummer, Minnesota
In Plummer, located in Pennington 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 the area stands at $293,100. To determine the tax bill, the assessed value is multiplied by the local tax rate, which varies depending on the specific tax jurisdictions within the county. Homeowners in Plummer can expect a tax bill that falls within a range, with the 25th percentile at $1,302 and the 75th percentile at $2,660. For those at the higher end, the 90th percentile tax bill reaches $3,280. These figures reflect the diverse range of property values and tax rates within the region. Compared to the national median property tax rate of 0.99%, Plummer's tax bills are competitive, providing a balanced approach to funding local services without placing an undue burden on homeowners. This system ensures that property taxes are equitably distributed based on the value of each property, impacting homeowners proportionally.
Average Plummer Tax Bill
$1,769
Average Pennington County Tax Bill
$1,610
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Plummer, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56748 | $810 | $1,302 | $1,769 | $2,660 | $3,280 |
Source: Ownwell