Mentor, Red Lake County, Minnesota Property Taxes
Median Mentor, MN effective property tax rate: 0.57%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Mentor, MN home value: $133,000
Median annual Mentor, MN tax bill: $671, $1,729 lower than the national median property tax bill of $2,400.
How are property taxes in Red Lake calculated?
Property taxes in Mentor, 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 Mentor’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mentor, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mentor, Red Lake County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.72%
Estimate Property Tax Bill
$1,048
$972
Property Tax Rates Across Mentor, Red Lake County, Minnesota
Local government entities determine tax rates, which can differ greatly within a state. Each year, counties estimate their necessary budget for services and divide this by the total value of all taxable property in their area. This calculation determines the property tax rate. Although setting tax rates and budgets involves votes and laws, this is essentially the annual process.
In Mentor, located in Red Lake County, the effective property tax rate offers a unique perspective when compared to other cities within Minnesota, as well as the median property tax rates across the state and the nation. The national median property tax rate stands at 1.02%, while Mentor's rate reflects the local government's budgetary needs and property values. With these comparisons, property owners can better understand how their taxes are assessed and how they align with broader trends. This insight can be valuable for those considering property tax appeals or exemptions, providing a clearer picture of where Mentor stands in the larger context of property taxation.
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 Mentor Tax Rate
0.72%
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 Red Lake County Tax Rate
1.20%
Median Effective Minnesota Tax Rate
1.13%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mentor, Red Lake County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56736 | 0.42% | 0.61% | 0.72% | 0.76% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Mentor, Red Lake County, Minnesota
When examining property taxes in Mentor, 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 Red Lake 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 Red Lake 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 Mentor. For example, the median home price in Mentor is $133,000, with tax bills ranging significantly across the county. Zip code 56736 has the highest median home price at $133,000.
Property Tax Assessment Values Across Mentor, Red Lake County, Minnesota
Source: Ownwell
$92,850
$131,175
$169,500
Median Mentor Market Value
$145,500
Median Red Lake County Market Value
$140,050
Median Minnesota Market Value
$304,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mentor, Red Lake County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56736 | $57,260 | $85,900 | $145,500 | $195,800 | $247,900 |
Source: Ownwell
Property Tax Bills Across Mentor, Red Lake County, Minnesota
Median Mentor Tax Bill
$790
Median Red Lake County Tax Bill
$1,501
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Mentor, Red Lake County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56736 | $446 | $608 | $790 | $1,308 | $1,636 |
Source: Ownwell