Pemberton, Minnesota Property Taxes
The median property tax rate in Pemberton, MN is 0.94%, slightly below the national median of 0.99% but also lower than the Minnesota state median of 1.11%. With the median home value in Pemberton, the typical annual property tax bill reaches $2,508, which is less than the national median of $2,690. Property taxes in Pemberton are calculated based on the assessed value, which is often lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Pemberton'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 Pemberton 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
Pemberton, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$2,790
Ownwell’s Pemberton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pemberton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pemberton 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 Pemberton, Minnesota
Property taxes in Pemberton, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pemberton is 0.94%, which is slightly below the U.S. national median of 0.99%. Local government entities within Pemberton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pemberton 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 Pemberton's effective property tax rate to other areas in Waseca County and the national median. For comparison, the 56078 zip code has both the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with Pemberton 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 Pemberton Tax Rate
0.94%
Average Waseca County Tax Rate
1.46%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pemberton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56078 | 0.38% | 0.41% | 0.94% | 1.02% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Pemberton, Minnesota
In Pemberton, 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 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 Pemberton, 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. For instance, the median home price is $296,800, with tax bills ranging from $1,640 at the 25th percentile to $5,273 at the 90th percentile. The highest and lowest median tax bills in the area both stand at $2,508, specifically in the 56078 zip code. 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 Pemberton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pemberton Assessed Value
$296,800
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 Pemberton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56078 | $124,420 | $206,300 | $296,800 | $678,450 | $1,211,020 |
Source: Ownwell
Property Tax Bills Across Pemberton, Minnesota
In Pemberton, located in Waseca County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Pemberton can expect property tax bills to vary significantly based on their home's value and specific location within the county. For instance, the tax bill at the 25th percentile is around $1,640, while at the 75th percentile, it rises to approximately $3,451. At the 90th percentile, the tax bill can reach as high as $5,273. The highest median tax bill in the area is $2,508, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential services such as schools, infrastructure, and public safety, directly impacting the quality of life for homeowners. Understanding how these factors interplay helps homeowners in Pemberton better anticipate their annual property tax obligations.
Average Pemberton Tax Bill
$2,508
Average Waseca County Tax Bill
$2,536
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Pemberton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56078 | $1,065 | $1,640 | $2,508 | $3,451 | $5,273 |
Source: Ownwell