Backus, Minnesota Property Taxes
The median property tax rate in Backus, MN is 0.44%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $192,300 in Backus, the typical annual property tax bill is $682, well below the national median of $2,690. Property taxes in Backus are calculated based on the tax assessed value, which often falls below the market value due to 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 substantial annual savings. Whether you're in the heart of Backus or another part of Crow Wing County, 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
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
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 0.44%, which is significantly 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 zip code 56435 has the highest median property tax rate of 0.44%, while the same zip code also has the lowest median tax rate of 0.44%. Understanding how these cities compare with Backus provides valuable insights into the varying tax landscape across Crow Wing County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Backus Tax Rate
0.44%
Average Crow Wing County Tax Rate
0.59%
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 | 0.29% | 0.36% | 0.44% | 0.45% | 0.48% |
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 Crow Wing 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 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. The median home price in Backus is $192,300, with tax bills ranging from $338 at the 25th percentile to $1,677 at the 90th percentile. The zip code 56435 has the highest and lowest median tax bill, both at $682. 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.
Average Backus Assessed Value
$192,300
Average Crow Wing County Assessed Value
$265,300
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 | $76,390 | $96,875 | $192,300 | $307,325 | $382,240 |
Source: Ownwell
Property Tax Bills Across Backus, Minnesota
In Backus, located in Crow Wing County, MN, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The median home price in Backus is $192,300. Property tax rates in this region are influenced by local government budgets and the needs of public services such as schools, infrastructure, and emergency services. Homeowners in Backus can expect a wide range of tax bills. For instance, the 25th percentile tax bill is $338, while the 75th percentile tax bill is $1,365, and the 90th percentile reaches up to $1,677. The median property tax bill in Backus is $682, which is significantly lower than the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by contributing to the funding of essential community services, which in turn can affect property values and the overall quality of life in the area. Understanding these factors can help homeowners better anticipate their annual expenses and plan accordingly.
Average Backus Tax Bill
$682
Average Crow Wing County Tax Bill
$1,562
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 | $237 | $338 | $682 | $1,365 | $1,677 |
Source: Ownwell