Bird Island, Minnesota Property Taxes
The median property tax rate in Bird Island, MN is 0.28%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $1,937,900, the typical annual property tax bill in Bird Island reaches $5,518, surpassing the national median of $2,690. Property taxes in Bird Island are calculated based on the assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bird Island'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 Bird Island 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
Bird Island, 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 BIRD ISLAND Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BIRD ISLAND with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BIRD ISLAND 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 Bird Island, Minnesota
Property taxes in Bird Island, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bird Island is 1.03%, higher than both the Minnesota state median of 0.90% and the U.S. national median of 0.99%. Local government entities within Bird Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bird Island 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 Bird Island's effective property tax rate to other counties in Minnesota and the national median. For comparison, the highest median property tax rate in the county is 1.40%, while the lowest median tax rate is 0.72%. Understanding how these cities compare with Bird Island provides valuable insights into the varying tax landscape across Renville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bird Island Tax Rate
0.28%
Average Kandiyohi County Tax Rate
1.04%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bird Island, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55310 | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% |
Source: Ownwell
Property Tax Assessment Values Across Bird Island, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bird Island, 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 local 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 Bird Island, 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 Bird Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Bird Island is 55310, with a median tax bill of $5518.
Property Tax Assessment Values Across Bird Island, Minnesota
Source: Ownwell
$150,200
$1,044,050
$1,937,900
Average Bird Island Assessed Value
$1,937,900
Average Kandiyohi County Assessed Value
$222,850
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bird Island, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55310 | $1,937,900 | $1,937,900 | $1,937,900 | $1,937,900 | $1,937,900 |
Source: Ownwell
Property Tax Bills Across Bird Island, Minnesota
In Bird Island, located in Kandiyohi County, MN, property tax bills are determined by a combination of the assessed value of a property and the local tax rate. The assessed value is based on the market value of the home, which in Bird Island has a median price of $1,937,900. This value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Bird Island, the property tax bill can significantly impact their finances. The median tax bill in the area stands at $5,518, which is considerably higher than the national median property tax rate of 0.99%. This higher tax bill reflects the relatively high property values in the region. Homeowners must account for this expense in their annual budgets, as it can influence decisions on property investments and long-term financial planning. Understanding these factors is crucial for homeowners to effectively manage their property expenses and overall financial health.
Average Bird Island Tax Bill
$5,518
Average Kandiyohi County Tax Bill
$2,360
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Bird Island, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55310 | $5,518 | $5,518 | $5,518 | $5,518 | $5,518 |
Source: Ownwell