Rush City, Minnesota Property Taxes
The median property tax rate in Rush City, MN is 0.72%, 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 Rush City at $316,800, the typical annual property tax bill amounts to $1,948, falling below the national median of $2,690. Property taxes in Rush City 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 Rush City'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 Rush City 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
Rush City, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$2,281
Ownwell’s Rush City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rush City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rush City 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 Rush City, Minnesota
Property taxes in Rush City, Minnesota, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Rush City is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Rush City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rush City 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 Rush City's effective property tax rate to other areas in Pine County and the national median. For comparison, the zip code 55069 has both the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Rush City provides valuable insights into the varying tax landscape across Pine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rush City Tax Rate
0.72%
Average Pine County Tax Rate
0.75%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rush City, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55069 | 0.46% | 0.59% | 0.72% | 0.81% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Rush City, Minnesota
In Rush City, 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 Pine 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 Rush City, 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 Rush City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rush City is $316,800, with tax bills ranging from $1,263 at the 25th percentile to $3,570 at the 90th percentile. The highest and lowest median tax bills are both $1,948 in the 55069 zip code.
Average Rush City Assessed Value
$316,800
Average Pine County Assessed Value
$174,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rush City, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55069 | $72,900 | $188,050 | $316,800 | $400,000 | $524,060 |
Source: Ownwell
Property Tax Bills Across Rush City, Minnesota
In Rush City, located in Pine County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. For example, with a median home price of $316,800, homeowners can expect their property tax bill to vary significantly depending on the assessed value and applicable exemptions. The tax rate in Pine County influences the final tax bill, and this rate is applied to the assessed value to determine the amount owed. Homeowners in Rush City may see tax bills ranging from the 25th percentile at $1,263 to the 75th percentile at $2,891, with higher-end properties reaching up to $3,570. These figures highlight the variation in property tax bills within the area. When compared to the national median property tax rate of 0.99%, Rush City's tax bills reflect the local economic conditions and property values, directly impacting homeowners' annual expenses. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Rush City Tax Bill
$1,948
Average Pine County Tax Bill
$1,286
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Rush City, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55069 | $413 | $1,263 | $1,948 | $2,891 | $3,570 |
Source: Ownwell