Campbell, Minnesota Property Taxes
The median property tax rate in Campbell, MN is 0.77%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $162,900 in Campbell, the typical annual property tax bill is $892, significantly below the national median of $2,690. Property taxes in Campbell are calculated based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Campbell'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 Campbell or another part of Grant County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Campbell, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,254
Ownwell’s Campbell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Campbell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Campbell 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 Campbell, Minnesota
Property taxes in Campbell, Minnesota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Campbell is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Campbell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Campbell 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 Campbell's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56522 zip code has both the highest and lowest median property tax rate of 0.77%. Understanding how these cities compare with Campbell provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Campbell Tax Rate
0.77%
Average Grant County Tax Rate
0.87%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Campbell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56522 | 0.44% | 0.63% | 0.77% | 0.82% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Campbell, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Campbell, Minnesota. 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 Grant 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 Campbell, 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 Campbell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 56522 in Campbell has both the highest and lowest median tax bill at $892.
Average Campbell Assessed Value
$162,900
Average Grant County Assessed Value
$166,400
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Campbell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56522 | $99,070 | $133,225 | $162,900 | $209,100 | $273,000 |
Source: Ownwell
Property Tax Bills Across Campbell, Minnesota
In Campbell, Grant County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the home's market value. The local tax rate is applied to this assessed value to calculate the annual property tax bill. Several factors influence the final tax bill, including the property's location, size, and improvements. For homeowners in Campbell, the median home price is $162,900. At the 25th percentile, property tax bills are around $554, while at the 75th percentile, they rise to $1,596. The 90th percentile sees tax bills as high as $2,257. Compared to the national median property tax rate of 0.99%, Campbell's tax rates can vary significantly, impacting homeowners differently based on their property's assessed value. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Campbell Tax Bill
$892
Average Grant County Tax Bill
$1,600
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Campbell, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56522 | $549 | $554 | $892 | $1,596 | $2,257 |
Source: Ownwell