Currie, Minnesota Property Taxes
The median property tax rate in Currie, MN is 0.80%, which is considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Currie, the typical annual property tax bill reaches $1,108, significantly below the national median of $2,690. Property taxes in Currie 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 Currie’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 Currie 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
Currie, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,278
Ownwell’s Currie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Currie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Currie 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 Currie, Minnesota
Property taxes in Currie, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Currie is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Currie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Currie 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 Currie's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56123 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Currie provides valuable insights into the varying tax landscape across Murray County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Currie Tax Rate
0.80%
Average Murray County Tax Rate
0.81%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Currie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56123 | 0.21% | 0.48% | 0.80% | 1.29% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Currie, Minnesota
In Currie, 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 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 Currie, 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 Currie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Currie is $159,700, with tax bills ranging from $534 at the 25th percentile to $3,214 at the 90th percentile.
Average Currie Assessed Value
$159,700
Average Murray County Assessed Value
$177,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Currie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56123 | $9,420 | $50,600 | $159,700 | $302,200 | $847,400 |
Source: Ownwell
Property Tax Bills Across Currie, Minnesota
Property tax bills in Currie, located in Murray County, MN, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Currie, the median home price is $159,700, and the property tax rate is reflective of the local government's budgetary needs. Homeowners in the 25th percentile can expect a tax bill around $534, while those in the 75th percentile may see bills closer to $2,134. At the 90th percentile, tax bills can reach up to $3,214. These figures indicate the variability in property tax bills due to differences in property values and assessment practices. Understanding how these bills are calculated is crucial for homeowners, as it directly impacts their annual financial planning and the overall affordability of their homes. Comparing these figures to the national median property tax rate of 0.99% can also provide additional context for homeowners evaluating their tax obligations.
Average Currie Tax Bill
$1,108
Average Murray County Tax Bill
$1,236
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Currie, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56123 | $103 | $534 | $1,108 | $2,134 | $3,214 |
Source: Ownwell