Dundas, Minnesota Property Taxes
The median property tax rate in Dundas, MN is 1.10%, slightly higher than the national median of 0.99% but just below the Minnesota state median of 1.11%. With the median home value in Dundas at $338,450, the typical annual property tax bill reaches $3,079, surpassing the national median of $2,690. Property taxes in Dundas 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 Dundas'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 Dundas 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
Dundas, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$3,723
Ownwell’s Dundas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dundas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dundas 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 Dundas, Minnesota
Property taxes in Dundas, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dundas is 1.10%, higher than both the Minnesota state median of 1.05% and the U.S. national median of 0.99%. Local government entities within Dundas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dundas 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 Dundas's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55019 zip code has the highest median property tax rate of 1.10%, while the 55019 zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Dundas provides valuable insights into the varying tax landscape across Rice County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dundas Tax Rate
1.10%
Average Rice County Tax Rate
0.89%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dundas, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55019 | 0.24% | 0.69% | 1.10% | 1.18% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Dundas, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dundas, 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 Rice 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 Dundas, 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 Dundas is $338,450, with tax bills ranging from $2,127 at the 25th percentile to $5,281 at the 90th percentile. The highest median tax bill is $3,079 in the 55019 zip code, which also has the lowest median tax bill. 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 Dundas Assessed Value
$338,450
Average Rice County Assessed Value
$294,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dundas, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55019 | $199,810 | $242,850 | $338,450 | $444,525 | $574,060 |
Source: Ownwell
Property Tax Bills Across Dundas, Minnesota
In Dundas, located in Rice County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions are considered in the assessment process. For instance, the median home price in Dundas is $338,450. Homeowners in Dundas can expect a wide range of tax bills. At the 25th percentile, tax bills are around $2,127, while those at the 75th percentile see bills closer to $4,172. The highest tax bills, at the 90th percentile, reach up to $5,281. Comparatively, the national median property tax rate stands at 0.99%, making it essential for Dundas homeowners to be aware of their local rates and how they align with national figures. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Dundas Tax Bill
$3,079
Average Rice County Tax Bill
$2,471
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Dundas, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55019 | $756 | $2,127 | $3,079 | $4,172 | $5,281 |
Source: Ownwell