Backus, Minnesota Property Taxes
The median property tax rate in Backus, MN is 0.47%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Backus at $203,900, the typical annual property tax bill reaches $976, significantly below the national median of $2,690. Property taxes in Backus are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Backus'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 Backus 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
Backus, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$958
Ownwell’s Backus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Backus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Backus 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 Backus, Minnesota
Property taxes in Backus, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Backus is 0.47%, which is lower than the U.S. national median of 0.99%. Local government entities within Backus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Backus 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 Backus's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56435 zip code has both the highest and lowest median property tax rate of 0.47%. Understanding how these cities compare with Backus provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Backus Tax Rate
0.47%
Average Cass County Tax Rate
0.53%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Backus, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56435 | 0.40% | 0.44% | 0.47% | 0.51% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Backus, Minnesota
In Backus, 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 Cass County Assessor 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 Backus, 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 Backus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 56435 has the highest and lowest median tax bill at $976.
Average Backus Assessed Value
$203,900
Average Cass County Assessed Value
$248,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Backus, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56435 | $62,140 | $122,400 | $203,900 | $310,100 | $431,840 |
Source: Ownwell
Property Tax Bills Across Backus, Minnesota
In Backus, MN, located in Cass County, property tax bills are determined by several key factors, starting with the assessed value of the property. The assessed value is typically a percentage of the market value, which is influenced by the local real estate market conditions. In Backus, the median home price is $203,900, and property tax rates are applied to this assessed value to calculate the tax bill. For homeowners, the tax bill can vary significantly. For instance, the 25th percentile tax bill is $574, while the 75th percentile tax bill reaches $1,475. At the 90th percentile, the tax bill can be as high as $2,039. These figures indicate a broad range of tax liabilities, reflecting differences in property values and the specific tax rates applied. Comparatively, the property tax rate in Backus aligns closely with the national median property tax rate of 0.99%. This means that homeowners in Backus experience a property tax burden similar to the national average, impacting their overall cost of homeownership.
Average Backus Tax Bill
$976
Average Cass County Tax Bill
$1,350
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Backus, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56435 | $290 | $574 | $976 | $1,475 | $2,039 |
Source: Ownwell