Mapleton, Minnesota Property Taxes
The median property tax rate in Mapleton, MN is 0.97%, slightly below the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Mapleton at $184,300, the typical annual property tax bill is $1,792, which is lower than the national median of $2,690. Property taxes in Mapleton are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Mapleton'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 Mapleton 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
Mapleton, 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 Mapleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mapleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mapleton 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 Mapleton, Minnesota
Property taxes in Mapleton, Minnesota, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Mapleton is 0.97%, which is slightly below the U.S. national median of 0.99%. Local government entities within Mapleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mapleton 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 Mapleton's effective property tax rate to other areas in Waseca County and the national median. For comparison, the zip code 56065 has both the highest and lowest median property tax rate of 0.97%. Understanding how these cities compare with Mapleton 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 Mapleton Tax Rate
0.97%
Average Waseca County Tax Rate
1.46%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mapleton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56065 | 0.97% | 0.97% | 0.97% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Mapleton, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mapleton, 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 Waseca 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 Mapleton, 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 Mapleton 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 in Waseca County is 56065, with a median tax bill of $1,792.
Average Mapleton Assessed Value
$184,300
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 Mapleton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56065 | $184,300 | $184,300 | $184,300 | $184,300 | $184,300 |
Source: Ownwell
Property Tax Bills Across Mapleton, Minnesota
In Mapleton, located in Waseca County, MN, property tax bills are calculated based on the assessed value of a home. The median home price in Mapleton is $184,300, which serves as a starting point for determining the tax bill. Local tax assessors evaluate the property's market value, and then a specific tax rate is applied to this assessed value to calculate the annual tax bill. This tax rate is influenced by the local government's budgetary needs and voter-approved levies for public services such as schools and infrastructure. In Mapleton, the property tax bill for most homeowners falls around $1,792, consistent across various percentiles, indicating a relatively uniform tax rate in the area. This amount is slightly higher than the national median property tax rate of 0.99%, impacting homeowners by adding a predictable annual expense based on their property's value. Understanding these factors helps homeowners anticipate their financial obligations and better plan their budgets.
Average Mapleton Tax Bill
$1,792
Average Waseca County Tax Bill
$2,536
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Mapleton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56065 | $1,792 | $1,792 | $1,792 | $1,792 | $1,792 |
Source: Ownwell