Baudette, Minnesota Property Taxes
The median property tax rate in Baudette, MN is 0.75%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Baudette, the typical annual property tax bill amounts to $855, significantly less than the national median of $2,690. Property taxes in Baudette are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Baudette'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 Baudette or another part of Lake of the Woods County, being well-informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Baudette, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$821
Ownwell’s Baudette Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baudette with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baudette 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 Baudette, Minnesota
Property taxes in Baudette, Minnesota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Baudette is 0.75%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Baudette set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baudette 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 Baudette's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56623 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Baudette provides valuable insights into the varying tax landscape across Lake of the Woods County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baudette Tax Rate
0.75%
Average Lake Of The Woods County Tax Rate
0.75%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baudette, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56623 | 0.57% | 0.67% | 0.75% | 0.90% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Baudette, Minnesota
In Baudette, 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 Lake of the Woods 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 Baudette, 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 instance, in Baudette, the median home price is $109,400, and property tax bills can range significantly, with the 25th percentile at $270 and the 90th percentile reaching $2,512. 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 Baudette helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Baudette Assessed Value
$109,400
Average Lake Of The Woods County Assessed Value
$104,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baudette, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56623 | $10,340 | $36,850 | $109,400 | $206,300 | $310,300 |
Source: Ownwell
Property Tax Bills Across Baudette, Minnesota
In Baudette, located in Lake of the Woods County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Baudette is $109,400. Homeowners' tax bills can vary significantly, with the 25th percentile paying around $270 and the 75th percentile facing a bill of approximately $1,642. The highest median tax bill reported is $855, which is consistent across the zip code 56623. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. These elements combined determine the financial responsibility of homeowners. Compared to the national median property tax rate of 0.99%, Baudette's property taxes can be a significant consideration for residents. Homeowners need to be aware of these factors as they directly impact their annual expenses and overall cost of owning property in the region. Understanding how these elements interplay can help in managing financial expectations and planning accordingly.
Average Baudette Tax Bill
$855
Average Lake Of The Woods County Tax Bill
$794
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Baudette, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56623 | $86 | $270 | $855 | $1,642 | $2,512 |
Source: Ownwell