Orr, Minnesota Property Taxes
The median property tax rate in ORR, Minnesota is 0.54%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in ORR, the typical annual property tax bill reaches $208, far below the national median of $2,690. Property taxes in ORR 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 ORR'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 ORR 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
Orr, 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 ORR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ORR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ORR 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 Orr, Minnesota
Property taxes in ORR, Minnesota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in ORR is 0.54%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within ORR set these rates annually, and they can vary significantly across different neighborhoods. Each year, ORR 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 ORR's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55771 has both the highest and lowest median property tax rate of 0.54%. Understanding how these areas compare with ORR provides valuable insights into the varying tax landscape across Koochiching County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orr Tax Rate
0.54%
Average Koochiching County Tax Rate
0.72%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orr, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55771 | 0.47% | 0.51% | 0.54% | 0.57% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Orr, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in ORR, 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 Koochiching County Assessor's Office 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 ORR, 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. For example, the median home price in ORR is $42,200, with tax bills ranging from $148 at the 25th percentile to $579 at the 90th percentile. The highest and lowest median tax bills are both $208, found in the 55771 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Orr Assessed Value
$42,200
Average Koochiching County Assessed Value
$92,700
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orr, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55771 | $21,540 | $28,600 | $42,200 | $85,700 | $117,140 |
Source: Ownwell
Property Tax Bills Across Orr, Minnesota
In ORR, Koochiching County, MN, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in ORR is $42,200, which serves as the basis for calculating property taxes. Factors such as property location, improvements, and local government budgets are considered in the assessment process. Homeowners in ORR can expect their tax bills to vary based on the assessed value of their property. For instance, the tax bill at the 25th percentile is $148, while at the 75th percentile, it rises to $456. Those at the 90th percentile face tax bills as high as $579. The highest and lowest median tax bills in ORR are both $208, indicating some consistency in tax rates within certain areas. These property tax bills directly impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, ORR's rates indicate a relatively lower tax burden, making it an attractive option for property owners looking for affordability.
Average Orr Tax Bill
$208
Average Koochiching County Tax Bill
$689
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Orr, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55771 | $107 | $148 | $208 | $456 | $579 |
Source: Ownwell