Tamarack, Aitkin County, Minnesota Property Taxes

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

Median TAMARACK, 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 TAMARACK, MN home value: $149,800
Median annual TAMARACK, MN tax bill: $701, $1,699 lower than the national median property tax bill of $2,400.

How are property taxes in Aitkin calculated?

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

Last Updated March 1, 2025

Tamarack, 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

$764

$709

Ownwell’s Tamarack Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tamarack with just two data points. By entering your property's estimated assessed value, our calculator applies Tamarack’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Aitkin 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 Tamarack, Aitkin County, Minnesota

Local government entities set tax rates, and these can vary significantly within a state. Each year, counties estimate their required budget to provide essential services. This budget is then divided by the total value of all taxable property within the county, resulting in the property tax rate. This annual process involves votes and laws to set both tax rates and budgets. In Tamarack, located in Aitkin County, the effective property tax rate stands at 0.51%. This is significantly below the national median property tax rate of 1.02%. This low rate may appeal to property owners seeking affordable tax options. Compared to other cities in Minnesota, Tamarack's tax rate is consistent, with no variation within the county. Furthermore, the median property tax bill in Tamarack is likely to be lower than the national median of $2,400. This makes Tamarack an attractive option for those looking to save on property taxes while still enjoying the services provided by the local government.

Property Tax Rates Across Tamarack, 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 Tamarack 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 Tamarack, Aitkin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55787	0.34%	0.44%	0.51%	0.56%	0.87%

Source: Ownwell

Property Tax Assessment Values Across Tamarack, Aitkin County, Minnesota

When examining property taxes in Tamarack, 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 Tamarack. For example, the median home price in Tamarack is $149,800, with tax bills ranging significantly across the county. Zip code 55787 has the highest median home price at $149,800.

Property Tax Assessment Values Across Tamarack, Aitkin County, Minnesota

Source: Ownwell

$102,700

$165,100

$227,500

Median Tamarack Market Value

$149,800

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 Tamarack, Aitkin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55787	$42,480	$83,300	$149,800	$233,450	$362,380

Source: Ownwell

Property Tax Bills Across Tamarack, Aitkin County, Minnesota

In Tamarack, located in Aitkin County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. With a median home price of $149,800, homeowners in Tamarack face a range of tax bills. For instance, those at the 25th percentile pay around $365, while those at the 75th percentile see bills of approximately $1,125. The highest median tax bill in the area is $701, reflecting a rate that is below the national median property tax bill of $2,400. These tax bills can significantly impact homeowners' finances, making it crucial to ensure they're not overpaying. Ownwell assists homeowners by offering professional property tax appeal services, which can help reduce these bills. By analyzing property assessments and market data, Ownwell identifies opportunities for savings, ensuring homeowners only pay their fair share.

Property Tax Bills Across Tamarack, Aitkin County, Minnesota

Source: Ownwell

$372

$872

$1,372

Median Tamarack Tax Bill

$701

Median Aitkin County Tax Bill

$932

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Tamarack, Aitkin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55787	$221	$365	$701	$1,125	$1,961

Source: Ownwell