Cohasset, Itasca County, Minnesota Property Taxes

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

Median Cohasset, MN effective property tax rate: 0.94%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Cohasset, MN home value: $242,700
Median annual Cohasset, MN tax bill: $2,124, $276 lower than the national median property tax bill of $2,400.

How are property taxes in Itasca County calculated?

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

Last Updated March 1, 2025

Cohasset, Itasca County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.94%

Estimate Property Tax Bill

$2,281

$2,117

Ownwell’s Cohasset Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cohasset with just two data points. By entering your property's estimated assessed value, our calculator applies Cohasset’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 Itasca. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Cohasset, Itasca County, Minnesota

Local government entities are responsible for setting tax rates, and these rates can differ significantly within a state. This variance is due to each county's annual process of estimating its budgetary needs for providing services and dividing this by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While setting tax rates and budgets involves votes and laws, this is essentially the yearly procedure. You can compare Cohasset’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.

Property Tax Rates Across Cohasset, Itasca County, Minnesota

Source: Ownwell

0.58%

1.01%

1.45%

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 Cohasset Tax Rate

0.94%

Median Effective Itasca County Tax Rate

0.93%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Cohasset, Itasca County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55721	0.56%	0.79%	0.94%	1.10%	1.15%

Source: Ownwell

Property Tax Assessment Values Across Cohasset, Itasca County, Minnesota

When examining property taxes in Cohasset, Minnesota, 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 Itasca 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 Itasca 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 Cohasset. For example, the median home price in Cohasset is $242,700, with tax bills ranging significantly across the county. 55721 has the highest median home price at $242,700.

Property Tax Assessment Values Across Cohasset, Itasca County, Minnesota

Source: Ownwell

$63,650

$153,175

$242,700

Median Cohasset Market Value

$242,700

Median Itasca County Market Value

$169,300

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Cohasset, Itasca County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55721	$68,120	$143,700	$242,700	$400,500	$626,120

Source: Ownwell

Property Tax Bills Across Cohasset, Itasca County, Minnesota

In Cohasset, located in Itasca County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners in Cohasset experience a range of tax bills, with the 25th percentile at $1,056 and the 75th percentile reaching $3,886. The 90th percentile tax bill can be as high as $6,507. These figures highlight the variability in tax burdens depending on property values and assessment accuracy. Compared to the national median property tax bill of $2,400, Cohasset's tax bills can be more burdensome for some homeowners. Factors influencing these tax bills include changes in market conditions and local government budgets. High property taxes can significantly impact homeowners, affecting their financial planning and housing affordability. Ownwell assists homeowners by offering property tax appeal and exemption services, potentially lowering tax bills. By analyzing property assessments and market data, Ownwell identifies opportunities for savings, ensuring homeowners pay only their fair share, thus easing the financial burden of property taxes.

Property Tax Bills Across Cohasset, Itasca County, Minnesota

Source: Ownwell

$530

$1,327

$2,124

Median Cohasset Tax Bill

$2,124

Median Itasca County Tax Bill

$1,502

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Cohasset, Itasca County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55721	$400	$1,056	$2,124	$3,886	$6,507

Source: Ownwell