Morris, Minnesota Property Taxes
The median property tax rate in Morris, MN is 1.18%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Morris at $134,200, the typical annual property tax bill reaches $1,546, exceeding the national median of $2,690. Property taxes in Morris 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 Morris'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 Morris 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
Morris, 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 Morris Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Morris with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Morris to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed information, you can explore trends on a neighborhood level by scrolling down. Your property’s assessed value is determined by the county for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Morris, Minnesota
Property taxes in Morris, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morris is 1.18%, which is higher than the U.S. national median of 0.99%. Local government entities within Morris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morris 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 Morris's effective property tax rate to other areas in Stevens County and the national median. For comparison, the zip code 56267 has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these figures compare with Morris 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 Morris Tax Rate
1.18%
Average Stevens County Tax Rate
1.24%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morris, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56267 | 0.80% | 0.96% | 1.18% | 1.37% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Morris, Minnesota
In Morris, 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 Stevens 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. 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 Morris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Morris, the highest median tax bill is $1,546 in the 56267 zip code, which is also the lowest median tax bill.
Average Morris Assessed Value
$134,200
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 Morris, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56267 | $45,780 | $81,850 | $134,200 | $219,250 | $307,440 |
Source: Ownwell
Property Tax Bills Across Morris, Minnesota
In Morris, Stevens 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 tax bill. For example, the median home price in Morris is $134,200. Homeowners can expect their tax bills to vary significantly, with the 25th percentile tax bill at $942 and the 75th percentile tax bill at $2,526. At the 90th percentile, tax bills can reach up to $3,591. Several factors influence these tax bills, including changes in property values, local government budgets, and specific tax rates set by the county. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Compared to the national median property tax rate of 0.99%, Morris homeowners experience a varied range of tax bills, reflecting both the value of their properties and the local tax policies.
Average Morris Tax Bill
$1,546
Average Stevens County Tax Bill
$1,340
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Morris, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56267 | $547 | $942 | $1,546 | $2,526 | $3,591 |
Source: Ownwell