Palisade, Aitkin County, Minnesota Property Taxes

Name: Property Tax Bills Across Palisade, Aitkin County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Palisade, MN effective property tax rate: 0.51%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Palisade, MN home value: $188,900
Median annual Palisade, MN tax bill: $850, $1,550 lower than the national median property tax bill of $2,400.

How are property taxes in Aitkin County calculated?

Property taxes in Palisade, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Palisade’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Palisade, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Palisade, Aitkin County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.51%

Estimate Property Tax Bill

$963

$894

Ownwell’s Palisade Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Palisade with just two data points. By entering your property's estimated assessed value, our calculator applies Palisade’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Aitkin County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Palisade, Aitkin County, Minnesota

Local government entities are responsible for setting property tax rates, leading to significant variations within a state. Each year, counties determine their necessary budget for public services and divide this by the total assessed value of all taxable properties within their area. This calculation results in the property tax rate. While the process involves votes and legislation, this is generally how it works annually. In Palisade, located in Aitkin County, Minnesota, the effective property tax rate can be compared to other cities within the state and against the national median. Minnesota's median property tax rate is notably lower than the national median of 1.02%. This means property owners in Palisade and Aitkin County might benefit from comparatively lower tax bills, potentially making the area more attractive for homeowners concerned about property tax expenses. Understanding these rates can offer valuable insights for current and prospective property owners when evaluating the financial implications of owning property in Palisade.

Property Tax Rates Across Palisade, Aitkin County, Minnesota

Source: Ownwell

0.43%

0.54%

0.65%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Palisade Tax Rate

0.51%

Median Effective Aitkin County Tax Rate

0.51%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Palisade, Aitkin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56469	0.29%	0.42%	0.51%	0.55%	0.64%

Source: Ownwell

Property Tax Assessment Values Across Palisade, Aitkin County, Minnesota

When examining property taxes in Palisade, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Aitkin County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Aitkin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Palisade.

For example, the median home price in Palisade is $188,900, with tax bills ranging significantly across the county. 56469 has the highest median home price at $188,900.

Property Tax Assessment Values Across Palisade, Aitkin County, Minnesota

Source: Ownwell

$102,700

$165,100

$227,500

Median Palisade Market Value

$188,900

Median Aitkin County Market Value

$189,500

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Palisade, Aitkin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56469	$44,790	$96,325	$188,900	$303,075	$422,930

Source: Ownwell

Property Tax Bills Across Palisade, Aitkin County, Minnesota

In Palisade, Minnesota, property tax bills are calculated based on the assessed value of a home. The local government assesses properties to determine their market value, which is then multiplied by the local tax rate to calculate the tax bill. With a median home price of $188,900, homeowners in Palisade can expect their tax bills to vary significantly. The 25th percentile tax bill is $412, while the 75th percentile reaches $1,470, and the 90th percentile can rise to $2,083. These figures highlight the range of property tax burdens that homeowners may face, influenced by factors such as property size, location, and local tax rates. Notably, the median tax bill in the 56469 zip code is $850, which is below the national median property tax bill of $2,400. Ownwell can assist homeowners by providing expert property tax appeal and exemption services, helping to ensure that their assessed property values are accurate and potentially reducing their tax bills, leading to significant savings.

Property Tax Bills Across Palisade, Aitkin County, Minnesota

Source: Ownwell

$372

$872

$1,372

Median Palisade Tax Bill

$850

Median Aitkin County Tax Bill

$932

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Palisade, Aitkin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56469	$185	$412	$850	$1,470	$2,083

Source: Ownwell