Hayfield, Dodge County, Minnesota Property Taxes
Median Hayfield, MN effective property tax rate: 0.92%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Hayfield, MN home value: $261,850
Median annual Hayfield, MN tax bill: $2,774, $374 higher than the national median property tax bill of $2,400.
How are property taxes in Dodge County calculated?
Property taxes in Hayfield, 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 Hayfield’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hayfield, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hayfield, Dodge County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.92%
Estimate Property Tax Bill
$2,409
$2,236
Property Tax Rates Across Hayfield, Dodge County, Minnesota
Local government entities have the authority to set property tax rates, which often leads to significant variations even within the same state. This is primarily because each county, such as Dodge County, calculates the necessary budget to fund local services annually. This budget is then divided by the total assessed value of all taxable properties within the county, resulting in the property tax rate. Although votes and legislation play a role in determining these rates and budgets, this fundamental process occurs each year.
In Hayfield, located in Dodge County, Minnesota, the effective property tax rate is a reflection of this process. When compared to other cities within Minnesota, Hayfield's property tax rate offers an insightful perspective on how local tax rates align with or differ from the state and national medians. With the national median property tax rate at 1.02% and a median tax bill of $2,400, understanding these local nuances is crucial for property owners. This comparison highlights the importance of being informed about local tax rates and their implications on property expenses.
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 Hayfield Tax Rate
0.92%
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 Dodge County Tax Rate
1.28%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hayfield, Dodge County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55940 | 0.45% | 0.76% | 0.92% | 1.42% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Hayfield, Dodge County, Minnesota
When examining property taxes in Hayfield, 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 Dodge 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 Dodge 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 Hayfield. For example, the median home price in Hayfield is $261,850, with tax bills ranging significantly across the county. Zip code 55940 has the highest median home price at $261,850.
Property Tax Assessment Values Across Hayfield, Dodge County, Minnesota
Source: Ownwell
$226,900
$365,025
$503,150
Median Hayfield Market Value
$261,850
Median Dodge County Market Value
$291,650
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hayfield, Dodge County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55940 | $137,060 | $173,025 | $261,850 | $423,850 | $604,800 |
Source: Ownwell
Property Tax Bills Across Hayfield, Dodge County, Minnesota
Median Hayfield Tax Bill
$2,774
Median Dodge County Tax Bill
$3,286
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Hayfield, Dodge County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55940 | $1,542 | $2,089 | $2,774 | $3,622 | $4,571 |
Source: Ownwell
