Alberta, Minnesota Property Taxes
The median property tax rate in Alberta, MN is 1.75%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Alberta, the typical annual property tax bill reaches $962, which is below the national median of $2,690. Property taxes in Alberta 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 Alberta'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 Alberta or another part of Stevens County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alberta, 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 Alberta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alberta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alberta 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 Alberta, Minnesota
Property taxes in Alberta, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alberta is 1.75%, significantly higher than the U.S. national median of 0.99%. Local government entities within Alberta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alberta 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 Alberta's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56207 zip code has both the highest and lowest median property tax rate of 1.75%. Understanding how these cities compare with Alberta provides valuable insights into the varying tax landscape across Stevens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alberta Tax Rate
1.75%
Average Stevens County Tax Rate
1.24%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alberta, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56207 | 0.56% | 1.28% | 1.75% | 1.95% | 2.41% |
Source: Ownwell
Property Tax Assessment Values Across Alberta, Minnesota
In Alberta, 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 Stevens County 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 Alberta, 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 Alberta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Alberta has a median home price of $56,500, with tax bills ranging from $498 at the 25th percentile to $3,060 at the 90th percentile. The highest and lowest median tax bills are both $962 in zip code 56207.
Average Alberta Assessed Value
$56,500
Average Stevens County Assessed Value
$112,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alberta, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56207 | $8,010 | $30,000 | $56,500 | $110,550 | $235,580 |
Source: Ownwell
Property Tax Bills Across Alberta, Minnesota
Property tax bills in Alberta, located in Stevens County, MN, are calculated based on the assessed value of a property and the local tax rate. The local tax rate is applied to the assessed value to determine the annual tax bill. In Alberta, the median home price is $56,500. Homeowners in the 25th percentile can expect a tax bill around $498, while those in the 75th percentile may see bills closer to $1,647. For properties in the 90th percentile, tax bills can reach up to $3,060. These tax bills are influenced by several factors, including property improvements, market conditions, and changes in local government budgets. Compared to the national median property tax rate of 0.99%, Alberta's rates can vary significantly, impacting homeowners differently based on their property's assessed value. High property taxes can affect affordability and overall cost of living, making it essential for homeowners to stay informed about their property assessments and potential exemptions.
Average Alberta Tax Bill
$962
Average Stevens County Tax Bill
$1,340
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Alberta, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56207 | $148 | $498 | $962 | $1,647 | $3,060 |
Source: Ownwell