New Germany, Carver County, Minnesota Property Taxes
Median New Germany, MN effective property tax rate: 0.98%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%. Median New Germany, MN home value: $321,800. Median annual New Germany, MN tax bill: $3,440, $1,040 higher than the national median property tax bill of $2,400.
How are property taxes in Carver County calculated?
Property taxes in New Germany, 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 New Germany’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Germany, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Germany, Carver County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.98%
Estimate Property Tax Bill
$3,154
$2,926
Property Tax Rates Across New Germany, Carver County, Minnesota
Local government entities determine property tax rates, which can significantly differ across a state. Each year, counties calculate the necessary budget to fund public services and divide it by the total assessed value of all taxable properties within their boundaries. This process establishes the property tax rate. Although votes and legislation play a role in setting these rates and budgets, this annual procedure forms the core of property tax determination.
In New Germany, located in Carver County, Minnesota, the property tax rate stands at 0.98%. This rate aligns with the highest and lowest median rates in the area, making it consistent across the region. When compared to the national median property tax rate of 1.02%, New Germany's rate is slightly lower, offering residents a more favorable tax environment. Similarly, the median property tax bill in the U.S. is $2,400, providing a benchmark for comparison. Understanding these rates can help property owners make informed decisions about their investments and potential savings through tax appeals or exemptions.
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 New Germany Tax Rate
0.98%
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 Carver County Tax Rate
1.09%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Germany, Carver County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55367 | 0.38% | 0.83% | 0.98% | 1.50% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across New Germany, Carver County, Minnesota
When examining property taxes in New Germany, 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 Carver 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.
Assessment notices:
In Carver 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 New Germany.
For example, the median home price in New Germany is $321,800, with tax bills ranging significantly across the county. Zip code 55367 has the highest median home price at $321,800.
Property Tax Assessment Values Across New Germany, Carver County, Minnesota
Source: Ownwell
$249,300
$432,500
$615,700
Median New Germany Market Value
$321,800
Median Carver County Market Value
$399,500
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Germany, Carver County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55367 | $185,600 | $229,700 | $321,800 | $509,200 | $786,700 |
Source: Ownwell
Property Tax Bills Across New Germany, Carver County, Minnesota
Median New Germany Tax Bill
$3,440
Median Carver County Tax Bill
$4,166
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across New Germany, Carver County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55367 | $2,024 | $2,685 | $3,440 | $4,420 | $5,289 |
Source: Ownwell