Greenbush, Minnesota Property Taxes
The median property tax rate in Greenbush, MN is 0.76%, which is significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $178,850 in Greenbush, the typical annual property tax bill amounts to $1,530, falling well below the national median of $2,690. Property taxes in Greenbush are calculated based on the assessed value, which often comes in lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Greenbush's property tax system, exploring available exemptions, and identifying potential reductions can result in substantial yearly savings. Whether you're located in the center of Greenbush or elsewhere in the area, having a grasp on the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Greenbush, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,359
Ownwell’s Greenbush Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenbush with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenbush 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 Greenbush, Minnesota
Property taxes in Greenbush, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenbush is 0.76%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Greenbush set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenbush 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 Greenbush's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56726 zip code has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Greenbush provides valuable insights into the varying tax landscape across Roseau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenbush Tax Rate
0.76%
Average Roseau County Tax Rate
0.88%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenbush, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56726 | 0.34% | 0.53% | 0.76% | 1.28% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Greenbush, Minnesota
In Greenbush, 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 Roseau 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 Greenbush, 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 Greenbush helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 56726 has the highest and lowest median tax bill at $1,530.
Average Greenbush Assessed Value
$178,850
Average Roseau County Assessed Value
$181,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenbush, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56726 | $56,550 | $103,875 | $178,850 | $271,050 | $433,310 |
Source: Ownwell
Property Tax Bills Across Greenbush, Minnesota
In Greenbush, located in Roseau County, MN, property tax bills are determined by considering the assessed value of a home and the local tax rate. The assessed value is an estimation of the property's market value, which is periodically evaluated by local tax assessors. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Greenbush, the median home price is $178,850, with property tax bills ranging significantly. At the 25th percentile, homeowners might pay around $872 annually, while those at the 75th percentile could see bills as high as $2,614. Those at the 90th percentile may face tax bills up to $3,588. Comparatively, the national median property tax rate is 0.99%, and Greenbush's tax rates reflect the local government's budgetary needs and services provided. Homeowners in this area must budget for these taxes, which directly impact their overall housing costs and financial planning.
Average Greenbush Tax Bill
$1,530
Average Roseau County Tax Bill
$1,664
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenbush, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56726 | $461 | $872 | $1,530 | $2,614 | $3,588 |
Source: Ownwell