Mcintosh, Minnesota Property Taxes
The median property tax rate in McIntosh, MN is 1.07%, slightly higher than the national median of 0.99% but lower than the Minnesota state median of 1.11%. With a median home value of $135,000 in McIntosh, the typical annual property tax bill amounts to $1,564, which falls below the national median of $2,690. Property taxes in McIntosh are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding McIntosh's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you reside in McIntosh or another part of Polk County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mcintosh, 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 McIntosh Property Tax Bill Calculator is designed to assist homeowners, real estate investors, and potential buyers in estimating their annual property taxes in McIntosh with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in McIntosh to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities, helping you plan your finances better. For those interested in more granular details, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Mcintosh, Minnesota
Property taxes in McIntosh, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McIntosh is 1.07%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within McIntosh set these rates annually, and they can vary significantly across different neighborhoods. Each year, McIntosh 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 McIntosh's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56556 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with McIntosh provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mcintosh Tax Rate
1.07%
Average Polk County Tax Rate
1.34%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mcintosh, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56556 | 0.41% | 0.78% | 1.07% | 1.61% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Mcintosh, Minnesota
In McIntosh, 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 Polk 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 McIntosh, 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 McIntosh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in McIntosh are both $1564, found in zip code 56556.
Average Mcintosh Assessed Value
$135,000
Average Polk County Assessed Value
$183,700
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mcintosh, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56556 | $53,260 | $89,400 | $135,000 | $228,300 | $384,060 |
Source: Ownwell
Property Tax Bills Across Mcintosh, Minnesota
In McIntosh, Polk 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 assessed value is then multiplied by the local tax rate to determine the tax bill. For example, the median home price in McIntosh is $135,000. With the national median property tax rate at 0.99%, homeowners might expect a base figure, but local rates can vary. Factors influencing the tax bill include property improvements, neighborhood changes, and local government budgets. In McIntosh, tax bills range significantly, with the 25th percentile at $1,104 and the 75th percentile at $2,136. The 90th percentile sees tax bills as high as $2,795. These variations reflect differences in property values and specific local tax levies. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Mcintosh Tax Bill
$1,564
Average Polk County Tax Bill
$2,200
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Mcintosh, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56556 | $779 | $1,104 | $1,564 | $2,136 | $2,795 |
Source: Ownwell