Bethel, Minnesota Property Taxes
The median property tax rate in Bethel, MN is 0.80%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Bethel at $352,000, the typical annual property tax bill amounts to $2,762, slightly above the national median of $2,690. Property taxes in Bethel are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bethel's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bethel or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bethel, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,816
Ownwell’s Bethel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bethel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bethel to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Bethel, Minnesota
Property taxes in Bethel, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethel is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Bethel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethel estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Bethel's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55005 zip code has the highest median property tax rate of 0.80%, while the 55011 zip code has the lowest median tax rate of 0.77%. Understanding how these cities compare with Bethel provides valuable insights into the varying tax landscape across Anoka County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethel Tax Rate
0.80%
Average Anoka County Tax Rate
0.96%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55005 | 0.65% | 0.77% | 0.80% | 0.82% | 0.86% |
| 55011 | 0.45% | 0.48% | 0.77% | 0.83% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Bethel, Minnesota
In Bethel, Minnesota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Anoka County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Bethel, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Bethel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,207 in the 55011 zip code, while the lowest is $2,762 in the 55005 zip code.
Average Bethel Assessed Value
$352,000
Average Anoka County Assessed Value
$327,000
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55005 | $60,420 | $287,700 | $351,700 | $423,050 | $481,620 |
| 55011 | $381,260 | $414,800 | $483,600 | $548,400 | $570,360 |
Source: Ownwell
Property Tax Bills Across Bethel, Minnesota
In Bethel, Anoka County, MN, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. They consider factors such as property size, location, and market conditions. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. In this region, the median home price is $352,000, with property tax bills ranging from $2,295 at the 25th percentile to $3,792 at the 90th percentile. Compared to the national median property tax rate of 0.99%, homeowners in Bethel face varying tax burdens. For instance, the highest median tax bill in the area is $3,207, found in the 55011 zip code, while the lowest median tax bill is $2,762 in the 55005 zip code. These tax bills impact homeowners by influencing their overall housing costs and financial planning, making it crucial for them to understand how their property taxes are calculated and what factors contribute to their annual obligations.
Average Bethel Tax Bill
$2,762
Average Anoka County Tax Bill
$3,246
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55005 | $353 | $2,294 | $2,762 | $3,279 | $3,791 |
| 55011 | $2,529 | $2,804 | $3,207 | $4,035 | $4,036 |
Source: Ownwell