Ellendale, Minnesota Property Taxes
The median property tax rate in Ellendale, MN is 1.03%, slightly higher than the national median of 0.99% but lower than the Minnesota state median of 1.11%. With a median home value of $308,800 in Ellendale, the typical annual property tax bill amounts to $2,762, which is below the national median of $2,690. Property taxes in Ellendale are calculated based on the assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Ellendale'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 Ellendale or another part of Waseca County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ellendale, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$3,181
Ownwell’s Ellendale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ellendale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ellendale 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 Ellendale, Minnesota
Property taxes in Ellendale, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ellendale is 1.03%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Ellendale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ellendale 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 Ellendale's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56026 zip code has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Ellendale provides valuable insights into the varying tax landscape across Waseca County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ellendale Tax Rate
1.03%
Average Waseca County Tax Rate
1.46%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ellendale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56026 | 0.61% | 0.80% | 1.03% | 1.05% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Ellendale, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ellendale, 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 local 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 Ellendale, 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 Ellendale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 56026, with a median tax bill of $2,762.
Average Ellendale Assessed Value
$308,800
Average Waseca County Assessed Value
$185,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ellendale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56026 | $197,500 | $240,850 | $308,800 | $355,850 | $539,520 |
Source: Ownwell
Property Tax Bills Across Ellendale, Minnesota
In Ellendale, MN, located in Waseca County, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to calculate the annual tax bill. Various factors influence this assessed value, including the home's size, age, location, and any improvements made. For homeowners in Ellendale, the median home price is $308,800. The property tax rate in the area results in tax bills ranging from the 25th percentile at $2,593 to the 75th percentile at $3,158, with the 90th percentile reaching up to $3,249. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the local market conditions and tax policies. Understanding these factors can help homeowners anticipate their tax obligations and plan their finances accordingly.
Average Ellendale Tax Bill
$2,762
Average Waseca County Tax Bill
$2,536
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellendale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56026 | $2,054 | $2,593 | $2,762 | $3,158 | $3,249 |
Source: Ownwell