Bigelow, Minnesota Property Taxes
The median property tax rate in Bigelow, MN is 0.81%, notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $94,150 in Bigelow, the typical annual property tax bill amounts to $734, significantly below the national median of $2,690. Property taxes in Bigelow are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Bigelow'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 Bigelow 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
Bigelow, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$763
Ownwell’s Bigelow Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bigelow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bigelow to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. 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 Bigelow, Minnesota
Property taxes in Bigelow, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bigelow is 0.81%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Bigelow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bigelow 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 Bigelow's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56117 zip code has both the highest and lowest median property tax rate in the area, standing at 0.81%. Understanding how these cities compare with Bigelow provides valuable insights into the varying tax landscape across Nobles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bigelow Tax Rate
0.81%
Average Nobles County Tax Rate
1.00%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bigelow, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56117 | 0.56% | 0.70% | 0.81% | 1.00% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Bigelow, Minnesota
In Bigelow, 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 Nobles 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 Bigelow, 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. The median home price in Bigelow is $94,150, with property tax bills ranging significantly. For instance, the 25th percentile tax bill is $374, while the 75th percentile tax bill is $1,359. The highest median tax bill in the area is $734, found in zip code 56117, which also has the lowest median tax bill of $734. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bigelow Assessed Value
$94,150
Average Nobles County Assessed Value
$169,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bigelow, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56117 | $19,910 | $49,100 | $94,150 | $155,575 | $299,000 |
Source: Ownwell
Property Tax Bills Across Bigelow, Minnesota
In Bigelow, located in Nobles County, MN, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of your property. For instance, with a median home price of $94,150, homeowners in Bigelow can expect varying tax bills depending on specific factors like property size, location, and any applicable exemptions. The tax rate in Bigelow is influenced by local government budgets and needs, and it is applied to the assessed value to determine the final tax bill. Homeowners in Bigelow see a range in their property tax bills, from the 25th percentile at $374 to the 75th percentile at $1,359, with the highest bills reaching up to $2,253. These variations can significantly impact homeowners' annual budgets, making it essential to understand how local property taxes are calculated and what factors might influence changes in their tax bills.
Average Bigelow Tax Bill
$734
Average Nobles County Tax Bill
$1,588
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Bigelow, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56117 | $169 | $374 | $734 | $1,359 | $2,253 |
Source: Ownwell