Mahnomen, Mahnomen County, Minnesota Property Taxes
Median Mahnomen, MN effective property tax rate: 0.88%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Mahnomen, MN home value: $112,850
Median annual Mahnomen, MN tax bill: $998, $1,402 lower than the national median property tax bill of $2,400.
How are property taxes in Mahnomen County calculated?
Property taxes in Mahnomen, 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 Mahnomen’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mahnomen, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mahnomen, Mahnomen County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.88%
Estimate Property Tax Bill
$993
$922
Property Tax Rates Across Mahnomen, Mahnomen County, Minnesota
Local government entities set tax rates, which can vary widely within a state. This is because every year, each county estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Mahnomen, MN, property tax rates are determined similarly. The effective property tax rate in Mahnomen aligns with the median tax rate of the county and state, reflecting a consistent approach to taxation. Compared to the national median property tax rate of 1.02%, Mahnomen's rate presents a favorable scenario for property owners. This provides an opportunity for residents to benefit from relatively lower tax obligations, allowing them more flexibility in managing their finances. Understanding these dynamics can help property owners make informed decisions about their investments and financial planning.
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 Mahnomen Tax Rate
0.88%
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 Mahnomen County Tax Rate
1.01%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mahnomen, Mahnomen County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56557 | 0.67% | 0.78% | 0.88% | 1.14% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Mahnomen, Mahnomen County, Minnesota
When examining property taxes in Mahnomen, 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 Mahnomen 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 Mahnomen 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 Mahnomen. For example, the median home price in Mahnomen is $112,850, with tax bills ranging significantly across the county. Zip code 56557 has the highest median home price at $112,850.
Property Tax Assessment Values Across Mahnomen, Mahnomen County, Minnesota
Source: Ownwell
$67,500
$130,500
$193,500
Median Mahnomen Market Value
$112,850
Median Mahnomen County Market Value
$124,500
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mahnomen, Mahnomen County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56557 | $39,580 | $65,875 | $112,850 | $176,475 | $256,180 |
Source: Ownwell
Property Tax Bills Across Mahnomen, Mahnomen County, Minnesota
Median Mahnomen Tax Bill
$998
Median Mahnomen County Tax Bill
$1,156
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Mahnomen, Mahnomen County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56557 | $433 | $624 | $998 | $1,578 | $2,227 |
Source: Ownwell