Jasper, Minnesota Property Taxes
The median property tax rate in Jasper, MN is 0.51%, notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Jasper, the typical annual property tax bill is $1,000, significantly below the national median of $2,690. Property taxes in Jasper 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 Jasper'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 Jasper or another part of Rock County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jasper, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$969
Ownwell’s Jasper Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jasper with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jasper 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 Jasper, Minnesota
Property taxes in Jasper, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jasper is 0.51%, significantly lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Jasper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jasper 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 Jasper's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56144 has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Jasper provides valuable insights into the varying tax landscape across Rock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jasper Tax Rate
0.51%
Average Rock County Tax Rate
0.93%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jasper, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56144 | 0.42% | 0.48% | 0.51% | 0.86% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Jasper, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Jasper, Minnesota. The market value represents 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 Rock 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 Jasper, 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. Jasper's property tax bills vary significantly, with the 25th percentile tax bill at $354 and the 75th percentile at $1,428. The highest and lowest median tax bill zip code is 56144, with a median tax bill of $1,000. 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 their tax burden.
Average Jasper Assessed Value
$190,000
Average Rock County Assessed Value
$166,600
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jasper, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56144 | $12,040 | $42,650 | $190,000 | $302,750 | $336,650 |
Source: Ownwell
Property Tax Bills Across Jasper, Minnesota
In Jasper, located in Rock 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 Jasper is $190,000. Property taxes are determined by multiplying the assessed value of the property by the local tax rate, which can vary within the county. For example, homeowners in the 25th percentile pay around $354, while those in the 75th percentile pay approximately $1,428. At the 90th percentile, the tax bill increases to about $1,747. The highest and lowest median tax bills in the area both stand at $1,000, indicating some consistency in property tax assessments within the zip code 56144. Compared to the national median property tax rate of 0.99%, Jasper's property taxes can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors can help homeowners better manage their finances and anticipate their annual property tax obligations.
Average Jasper Tax Bill
$1,000
Average Rock County Tax Bill
$1,430
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Jasper, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56144 | $94 | $354 | $1,000 | $1,428 | $1,747 |
Source: Ownwell