Swift County Property Tax Rates
The Swift County Property Tax rates for 2021 are listed below:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Agricultural | $3.25 |
| Residential | $5.60 |
| Commercial | $10.09 |
| Industrial | $9.58 |
| Seasonal | $4.41 |
It is important to note that these rates may vary based on the property's location and specific circumstances. Property owners in Swift County should consult with a licensed tax professional for more information on their individual tax liability.
Example of Swift County Property Tax Calculation
Swift County Property Tax is calculated by multiplying the market value of a property by the local tax rate. For example, if a property in Swift County has a market value of $100,000 and the local tax rate is 1%, the property tax amount would be $1,000 per year.
To calculate the market value of a property, the county assessor evaluates the property based on factors such as the size, location, and condition of the property.
Once the market value is determined, the tax rate is applied, which is set by the county or city government. The tax rate may vary depending on the location and the type of property.
Property owners in Swift County can pay their property taxes through various methods, including online, by mail, or in person at the county tax office. It is important to pay property taxes on time to avoid penalties and interest charges.
Understanding how Swift County Property Tax is calculated can help property owners plan their finances and budget for their tax payments.
If you want appeal your property tax assessment - contact your local tax assessor.
Who sets property tax rates in Swift County ?
Who sets property tax rates in Swift County?
The Swift County Board of Commissioners is responsible for setting property tax rates in the county. The board meets annually to review and adjust tax rates based on the county's budgetary needs and the assessed values of properties in the county.
When are property tax rates set in Swift County?
The property tax rates for Swift County are set annually by the Board of Commissioners during a public meeting. The meeting is usually held in December, and property owners receive their tax bills the following year.
How are property tax rates determined in Swift County?
The property tax rates in Swift County are based on a formula that takes into account the assessed value of the property and the county's budgetary needs. The county's budget is determined by a number of factors, including the cost of providing services and the amount of revenue generated from other sources, such as state aid and grants.
Once the budget has been finalized, the county's auditor calculates the tax rates necessary to generate the required revenue. The rates are then presented to the Board of Commissioners for their approval.
Conclusion
In summary, the Swift County Board of Commissioners sets property tax rates annually based on the county's budgetary needs and the assessed values of properties. Property owners receive their tax bills the following year. The rates are determined by a formula that takes into account the assessed value of the property and the county's budgetary needs.
Homestead exemptions in Swift County ?
The following table outlines the Homestead exemptions and deductions available in Swift County, Minnesota. These exemptions and deductions are specific to the county and can help eligible homeowners save money on property taxes.
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Market Value Exclusion | Owner-occupied homes | Up to $30,400 | Property taxes are calculated based on the value of the property after this exclusion is applied |
| Agricultural Homestead | Agricultural property owners | Up to $490,000 | Exemption applies to the value of the home and one acre of land |
| Disabled Veterans Exclusion | Disabled veterans and their surviving spouses | Up to $300,000 | Exemption applies to the value of the property |
| Blind and Disabled Exclusion | Blind or disabled homeowners | Up to $120,000 | Exemption applies to the value of the property |
| Green Acres | Owners of agricultural property converting to other uses | Varies | Property taxes are based on the lower value of the land, agricultural or non-agricultural |
| Senior Citizen Property Tax Deferral | Homeowners 65 years or older | Varies | Allows eligible seniors to defer a portion of their property taxes until the property is sold or they are no longer eligible |
It's important to note that these exemptions and deductions may have additional eligibility requirements or restrictions. Homeowners in Swift County should contact their local tax assessor's office to determine their eligibility and to apply for these exemptions and deductions.
When is Swift County Property Tax due ?
Swift County Property Tax is typically due on May 15th each year. However, if the due date falls on a weekend or holiday, the due date is extended to the next business day.
Here are the payment methods available:
| Payment Method | Details |
|---|---|
| Online Payment | Swift County offers an online payment option through their website. You can make a payment using your checking account or credit/debit card. |
| You can mail a check or money order to the Swift County Taxpayer Services office. Be sure to include your payment stub with your payment. | |
| In-Person | You can make an in-person payment at the Swift County Taxpayer Services office using cash, check, or money order. |
To avoid penalties and interest charges, it is recommended to pay property taxes by the due date. If you have any questions or concerns about your property tax payment, you can contact the Swift County Taxpayer Services office for assistance.
If you have more questions - contact your local tax collector.
How is Swift County Property Tax penalty calculated ?
The penalty for Swift County Property Tax is calculated based on a set percentage of the unpaid taxes. The penalty percentage varies depending on the length of time the taxes remain unpaid.
Here is an example to help illustrate the calculation:
| Scenario | Property Tax Owed | Penalty Percentage | Penalty Amount |
|---|---|---|---|
| Original Tax Due Date | $1,000 | — | — |
| 2 Months Late | $1,000 | 4% | $40 |
| 4 Months Late | $1,000 | 8% | $80 |
| 6 Months Late | $1,000 | 12% | $120 |
As shown in the table above, if a property owner has an original tax due date of $1,000 and is 2 months late, they would owe an additional penalty of $40, calculated as 4% of the original tax owed. If the taxes remain unpaid for 6 months or more, the penalty percentage would be 12%, resulting in a penalty of $120.
It's important to note that these penalties can add up quickly, so it's crucial to stay on top of property tax payments to avoid unnecessary fees.
We recommend contacting the Swift County Tax Office or a local tax professional for the most up-to-date and accurate information.