Example of Wilkin County Property Tax Calculation
In Wilkin County, the Property Tax is calculated by multiplying the assessed value of a property by the tax rate. For example, if a property is assessed at $100,000 and the tax rate is 1.5%, then the Property Tax would be $1,500.
The assessed value is determined by the Wilkin County Assessor's Office, who estimates the market value of the property based on factors such as location, size, and condition. The tax rate is set by the Wilkin County Board of Commissioners, and takes into account the County's budget and the needs of its residents.
It's important to note that there are also exemptions and deductions that can reduce the amount of Property Tax owed. For instance, homeowners aged 65 and over may qualify for a homestead exemption, while those who make energy-efficient improvements to their homes may be eligible for a tax credit.
If you have any questions about Wilkin County Property Tax, you can contact the Wilkin County Auditor's Office or visit their website for more information.
If you want appeal your property tax assessment - contact your local tax assessor.
Wilkin County Property Tax Rates
The Wilkin County Property Tax rates for 2021 are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $0.5292 |
| County Road and Bridge | $0.2098 |
| Wilkin Soil and Water Conservation District | $0.0144 |
| State General | $0.6114 |
| School District 2155 | $0.7125 |
| City of Breckenridge | $1.8313 |
| City of Campbell | $2.8075 |
Please note that these rates are subject to change and may vary based on individual property assessments. It is recommended to consult with a tax professional for specific information regarding property taxes in Wilkin County.
Who sets property tax rates in Wilkin County ?
Who sets property tax rates in Wilkin County?
The property tax rates in Wilkin County are set by the Wilkin County Board of Commissioners. The Board meets annually during the budget process to set the tax levy which determines the property tax rates for the county.
When are the property tax rates set in Wilkin County?
The property tax rates in Wilkin County are set annually during the budget process. The process typically begins in the fall, with public hearings held in November to gather input from residents on the proposed budget and tax levy. The final tax levy, and therefore property tax rates, are typically approved in December or early January. It is important for property owners in Wilkin County to keep an eye on the budget process and attend public hearings to ensure their voices are heard on the tax levy and property tax rates.
Homestead exemptions in Wilkin County ?
In Wilkin County, Minnesota, there are various Homestead exemptions and deductions that may be available to eligible residents. Here is a breakdown of the exemptions, eligibility requirements, amount, and any notes to keep in mind:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Owner-occupied primary residence | Up to $30,400 of assessed value | Must be filed by December 15th |
| Disabled Veteran Exclusion | Disabled veteran or spouse of deceased veteran | Up to $300,000 of market value | Must have proof of disability from Veterans Affairs |
| Blind Exclusion | Blind or visually impaired individual | Up to $120,000 of market value | Must have medical proof of blindness |
| Agricultural Land Exclusion | Agricultural land in active use | Up to 80% of market value | Must provide proof of agricultural use |
| Green Acres Program | Agricultural land in active use | Reduced tax rate | Must provide proof of agricultural use and meet eligibility requirements |
It is important to note that eligibility requirements may vary for each exemption, so it is recommended to consult with the Wilkin County Assessor's Office for specific details. Additionally, deadlines for filing may also differ, so make sure to keep track of any applicable deadlines.
Overall, these Homestead exemptions and deductions can provide valuable tax relief for eligible residents in Wilkin County.
When is Wilkin County Property Tax due ?
Wilkin County Property Tax Due Date and Payment Methods
If you own property in Wilkin County, MN, you are required to pay property taxes on an annual basis. Here's what you need to know about the due date and payment methods.
Due Date
The due date for Wilkin County property taxes is May 15th of each year. However, if this falls on a weekend or holiday, the due date will be the next business day. It's important to note that failure to pay on time will result in late fees and penalties.
Payment Methods
There are several ways to pay your Wilkin County property taxes:
-
Online: You can pay online through the Wilkin County website using a credit card or electronic check. Visit the Treasurer's page for more information.
-
Mail: You can mail a check or money order to the Wilkin County Treasurer's Office at the following address: Wilkin County Treasurer, PO Box 329, Breckenridge, MN 56520. Please include your property tax statement and write your property ID number on the check or money order.
-
In Person: You can pay in person at the Wilkin County Treasurer's Office, located at 300 South 5th Street, Breckenridge, MN 56520. Office hours are Monday-Friday, 8:00 AM-4:30 PM.
-
Drop Box: You can use the drop box located outside the Wilkin County Courthouse to deposit your payment after hours. Please include your property tax statement and write your property ID number on the check or money order.
In conclusion, Wilkin County property taxes are due on May 15th of each year and can be paid online, by mail, in person, or using the drop box. It's important to pay on time to avoid late fees and penalties.
If you have more questions - contact your local tax collector.
How is Wilkin County Property Tax penalty calculated ?
Wilkin County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, penalties are assessed. The penalty amount is calculated as a percentage of the unpaid taxes and accrues monthly until the taxes are paid in full.
The penalty rate for Wilkin County is currently 1.5% per month, or 18% per year. This penalty rate is applied to the total amount of unpaid taxes, including any special assessments or fees.
Here is an example of how the penalty would be calculated:
| Unpaid taxes | Penalty rate | Penalty per month |
|---|---|---|
| $1,000 | 1.5% | $15 |
| $1,000 + $15 | 1.5% | $22.50 |
| $1,000 + $37.50 | 1.5% | $33.75 |
If a property owner in Wilkin County fails to pay their property taxes of $1,000 by the due date, they will owe $15 in penalties for the first month. If they still haven't paid by the second month, the penalty will be calculated on the total amount due ($1,000 + $15 penalty from the first month), resulting in a penalty of $22.50 for the second month. If the taxes are still unpaid by the third month, the penalty will be calculated on the total amount due ($1,000 + $15 penalty from the first month + $22.50 penalty from the second month), resulting in a penalty of $33.75 for the third month.
This penalty will continue to accrue monthly until the taxes are paid in full. It is important to pay property taxes on time to avoid these penalties and ensure that you are in compliance with local tax laws.
We recommend contacting the Wilkin County Tax Office or a local tax professional for the most up-to-date and accurate information.