Example of Fillmore County Property Tax Calculation
In Fillmore County, property tax is calculated based on the assessed value of the property. To determine the assessed value, the county assessor evaluates the property and assigns a value based on factors such as location, size, and condition.
Once the assessed value is determined, the property tax rate is applied. The property tax rate is set by the county, city, school district, and other local governments, and is typically represented as a percentage of the assessed value.
For example, if a property in Fillmore County has an assessed value of $100,000 and the total property tax rate is 2%, the property tax bill would be $2,000.
It's important to note that certain exemptions and deductions may apply, such as a homestead exemption for primary residences or deductions for certain types of improvements or energy-efficient upgrades.
Property owners in Fillmore County can contact the county assessor's office for more information on how their property tax bill is calculated and any applicable exemptions or deductions.
If you want appeal your property tax assessment - contact your local tax assessor.
Fillmore County Property Tax Rates
The Fillmore County Property Tax rates per $100 of assessed value are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $1.14 |
| Cities | $0.47-$1.85 |
| Townships | $1.15 |
| Schools | $0.87-$1.07 |
| Special Tax | Varies by area |
It is important to note that the special tax rate will vary depending on the specific area within Fillmore County.
Who sets property tax rates in Fillmore County ?
Fillmore County property tax rates are set by the County Board of Commissioners annually. The rates are established in accordance with state law and are designed to provide revenue to fund essential public services, such as schools, roads, and law enforcement.
The County Board of Commissioners typically holds a public meeting to discuss and adopt the property tax rates each year. Property owners are notified of any changes in the tax rates through official channels, such as the county website or mailed notices.
It's important to note that property tax rates can vary depending on the location and type of property, as well as any special assessments or exemptions that may apply. Property owners should consult with a tax advisor or the county assessor's office for specific details on their property tax rates.
Below is a table outlining the steps involved in setting property tax rates in Fillmore County:
| Step | Description |
|---|---|
| Step 1 | County Board of Commissioners reviews budget and revenue needs |
| Step 2 | Public hearing is held to gather input from residents and stakeholders |
| Step 3 | County Board of Commissioners sets preliminary tax rates |
| Step 4 | Notices of proposed property tax rates are mailed to property owners |
| Step 5 | Final tax rates are adopted by the County Board of Commissioners |
| Step 6 | Property tax bills are mailed to property owners |
Homestead exemptions in Fillmore County ?
To help homeowners in Fillmore County, Minnesota take full advantage of their Homestead exemptions and deductions, the following table includes all county-specific information.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead | Must be the primary residence | Up to $30,400 | Applies to the first $150,000 of a property's value |
| Agricultural | Must be actively engaged in farming | Up to $10,300 | Applies to qualifying agricultural property |
| Disabled Veterans | Must have a service-related disability | Up to $300,000 | Applies to qualifying veterans' primary residences |
| Blind | Must be legally blind | Up to $3,000 | Applies to qualifying individuals' primary residences |
| Senior Citizen | Must be 65 years old or older | Up to $6,000 | Applies to qualifying individuals' primary residences |
It's important to note that these exemptions and deductions may change from year to year, so it's always best to check with the Fillmore County Assessor's Office for the most up-to-date information.
By taking advantage of these Homestead exemptions and deductions, homeowners in Fillmore County can potentially save thousands of dollars on their property taxes.
When is Fillmore County Property Tax due ?
Fillmore County Property Tax is typically due on May 15th of each year. Taxpayers have the option to pay their property taxes in full, or in two installments. The first installment is due on May 15th, and the second installment is due on October 15th.
There are several payment methods available for Fillmore County Property Tax. Taxpayers can pay online using a credit card or electronic check, by mail with a check or money order, or in-person at the Fillmore County Treasurer's office with cash, check, or money order. Additionally, taxpayers may have the option to enroll in an automatic payment plan that deducts the property tax amount from their checking or savings account.
It is important to note that failure to pay property taxes on time can result in penalties and interest charges. Taxpayers are encouraged to make their payments on time and to contact the Fillmore County Treasurer's office with any questions or concerns.
If you have more questions - contact your local tax collector.
How is Fillmore County Property Tax penalty calculated ?
Fillmore County Property Tax Penalty Calculation
If a property owner fails to pay their property taxes by the due date, they will be subject to penalty fees. Fillmore County calculates the penalty fees based on the following formula:
- First Month Penalty - 2% of the unpaid tax amount
- Second Month Penalty - 2% of the unpaid tax amount plus $5
- Third Month Penalty - 2% of the unpaid tax amount plus $10
- Fourth Month Penalty - 2% of the unpaid tax amount plus $15
- Fifth Month Penalty - 2% of the unpaid tax amount plus $20
- Sixth Month Penalty - 2% of the unpaid tax amount plus $25
Here’s an example of how the penalty fees would be calculated for a property owner who owes $10,000 in property taxes:
| Month | Unpaid Tax Amount | Penalty Fee |
|---|---|---|
| 1 | $10,000 | $200 |
| 2 | $10,000 | $205 |
| 3 | $10,000 | $210 |
| 4 | $10,000 | $215 |
| 5 | $10,000 | $220 |
| 6 | $10,000 | $225 |
As you can see from the example, the penalty fee increases by $5 every month after the second month. It’s important to note that these fees are in addition to the original tax amount owed.
It’s crucial for property owners to pay their taxes on time to avoid incurring these penalties. Property owners can pay their taxes online, by mail, or in-person at the Fillmore County Treasurer’s office.
We recommend contacting the Fillmore County Tax Office or a local tax professional for the most up-to-date and accurate information.