Danube, Minnesota Property Taxes
The median property tax rate in Danube, MN is 1.25%, significantly higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Danube at $130,750, the typical annual property tax bill reaches $1,466, exceeding the national median of $2,690. Property taxes in Danube 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 Danube'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 Danube 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
Danube, 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 Danube Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Danube with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Danube 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 Danube, Minnesota
Property taxes in Danube, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danube is 1.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Danube set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danube 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 Danube's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56230 has both the highest and lowest median property tax rate at 1.25%. Understanding how these cities compare with Danube provides valuable insights into the varying tax landscape across Renville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Danube Tax Rate
1.25%
Average Renville County Tax Rate
1.31%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danube, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56230 | 0.38% | 0.76% | 1.25% | 1.49% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Danube, Minnesota
In Danube, 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 Renville 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 Danube, 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 Danube helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 56230 in Danube has the highest and lowest median tax bill at $1,466.
Average Danube Assessed Value
$130,750
Average Renville County Assessed Value
$142,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Danube, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56230 | $49,980 | $81,925 | $130,750 | $214,575 | $924,350 |
Source: Ownwell
Property Tax Bills Across Danube, Minnesota
In the city of Danube, located in Renville County, MN, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, Danube's median home price is $130,750. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Danube can expect their tax bills to vary significantly; the 25th percentile tax bill is $964, while the 75th percentile reaches $2,328, and the 90th percentile can be as high as $3,615. These tax bills impact homeowners by influencing their overall cost of living and potentially affecting property values. Compared to the national median property tax rate of 0.99%, Danube's rates reflect the local economic conditions and funding needs for public services. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Danube Tax Bill
$1,466
Average Renville County Tax Bill
$1,564
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Danube, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56230 | $571 | $964 | $1,466 | $2,328 | $3,615 |
Source: Ownwell