With an average property tax rate of .56% and a median home value of $142,000, Lake County residents pay an average of $795 a year in property taxes.

Property taxes are one of the responsibilities of homeownership. But periodic increases in property appraisals, along with varying tax rates from county to county, can make it difficult to understand your tax responsibilities.

That’s why

Jerry

—your

home and auto insurance comparison

app—is here to guide you through the details of property taxes in your area. In this article, we’ll cover Lake County property tax information, including how and when to pay your property taxes in

Minnesota’s

68th most populous county.

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Property tax 101

If you’ve never paid property taxes before, here’s what you need to know:

Minnesota property taxes are applied locally and used to fund public and community initiatives, such as education, law enforcement, fire and public safety, and libraries.

Most property taxes are assessed on real property such as land, buildings, and homes

Local tax assessors assign rates based on current market values and a local tax rate

Property taxes are subject to increase based on market conditions and local budget needs

Basically, property taxes are how you as a homeowner support your community’s government services.

MORE: Is car insurance tax deductible?

What is the property tax rate in Lake County?

Lake County’s average tax rate is 0.56% of assessed home values—far below the state average of 1.035%. Based on that rate, you can expect to pay an average of $795 a year in property taxes in Lake County.

How Lake County property taxes are determined

The value of your property is determined by

your local tax assessor

based on the property’s fair market value. If you think your property’s value has been calculated incorrectly, you can appeal the assessment with the

Lake County Assessor

If you own your property and use it as a primary residence, you may qualify for a

Homestead Market Value Exclusion

or other tax reduction under Minnesota law.

What do Lake County property taxes pay for?

Lake County property tax revenues fund multiple local governmental services, including the following:

K-12 and community education

Public libraries

Transportation

Roads and highways

Law enforcement

Public health

Building safety

Regional sewer system

Mosquito control

Watershed management

Public housing

Museums

MORE: How to deduct a car accident from your taxes

How to pay property taxes in Lake County

Lake County property taxes are

due each year

on May 15 (first half) for all real estate, October 15 (second half) for all commercial and residential properties, and November 15 (second half) for agricultural property. If those dates fall on a holiday or weekend, your taxes will be due the next business day.

Taxpayers in Lake County have a

few convenient options

for paying property taxes. You can pay online, by mail or dropbox, in person, or through your mortgage payment. Here’s how:

Online: You can use an e-check, direct deposit, or a credit or debit card to pay Lake County property taxes—just be aware that card payments have an added convenience fee

By mail: Make your check payable to the Lake County Auditor and send it to 601 3rd Ave, Two Harbors, MN 55616

By phone:

Follow the instructions here

In-person: You can call the assessor’s office at the number

on their website

for an appointment to bring your payment in person.

Drop box: You can drop your payment off at the drop box located outside the Law Enforcement Center Building at 601 3rd Ave, Two Harbors, MN 55616

Through your mortgage: Lake County will send tax information to your mortgage lender if you choose to include your property taxes in your mortgage payment. Check with your lender to set this up

MORE:

Minnesota car insurance laws—all you need to know

How to save money on homeowners and car insurance in Minnesota

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When are property taxes due in Lake County?

Lake County property taxes are due on

May 15, October 15, and November 15

each year.

How do I get my Minnesota property tax statement?

Your property tax statement will be mailed to you in March, just before your first property tax payment is due.

Are property taxes high in Lake County?

Property taxes in Lake County average about $795 a year, which is much lower than both the state average and the national average.

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