Hanska, Minnesota Property Taxes
The median property tax rate in Hanska, MN is 0.69%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Hanska at $409,200, the typical annual property tax bill comes to $2,710, which is just below the national median of $2,690. Property taxes in Hanska are calculated based on the tax assessed value, which often falls below the market value thanks to various exemptions, such as those for primary residences and agricultural properties. Understanding Hanska's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hanska or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hanska, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$2,823
Ownwell’s Hanska Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hanska with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hanska 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 Hanska, Minnesota
Property taxes in Hanska, Minnesota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hanska is 0.69%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Hanska set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hanska 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 Hanska's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56041 has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these areas compare with Hanska provides valuable insights into the varying tax landscape across Watonwan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hanska Tax Rate
0.69%
Average Watonwan County Tax Rate
1.02%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hanska, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56041 | 0.41% | 0.60% | 0.69% | 0.79% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Hanska, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hanska, 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 county's 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 Hanska, 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 Hanska helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hanska are both $2710, found in the zip code 56041.
Average Hanska Assessed Value
$409,200
Average Watonwan County Assessed Value
$150,750
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hanska, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56041 | $130,750 | $204,950 | $409,200 | $489,175 | $760,100 |
Source: Ownwell
Property Tax Bills Across Hanska, Minnesota
In Hanska, located in Watonwan County, MN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For homeowners in Hanska, the median home price is $409,200, which serves as a baseline for understanding potential tax bills. The tax bill for the 25th percentile is $1,317, while those in the 75th percentile pay around $3,191. At the 90th percentile, the tax bill reaches $3,540. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Hanska's property taxes can vary significantly, impacting homeowners differently based on their property's assessed value and specific location within the county.
Average Hanska Tax Bill
$2,710
Average Watonwan County Tax Bill
$1,480
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Hanska, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56041 | $906 | $1,317 | $2,710 | $3,191 | $3,540 |
Source: Ownwell