Belle Plaine, Minnesota Property Taxes
The median property tax rate in Belle Plaine, MN is 1.41%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Belle Plaine at $302,200, the typical annual property tax bill reaches $4,086, exceeding the national median of $2,690. Property taxes in Belle Plaine 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 Belle Plaine'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 Belle Plaine 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
Belle Plaine, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$4,261
Ownwell’s Belle Plaine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Belle Plaine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belle Plaine 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 Scott County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Belle Plaine, Minnesota
Property taxes in Belle Plaine, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belle Plaine is 1.41%, significantly higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Belle Plaine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belle Plaine 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 Belle Plaine's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56011 has both the highest and lowest median property tax rate of 1.41%. Understanding how these areas compare with Belle Plaine provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belle Plaine Tax Rate
1.41%
Average Scott County Tax Rate
1.07%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belle Plaine, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56011 | 0.70% | 1.32% | 1.41% | 1.46% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Belle Plaine, Minnesota
In Belle Plaine, 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 Scott 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 Belle Plaine, 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. The highest median tax bill in Belle Plaine is $4,086 in the 56011 zip code, which also has the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Belle Plaine, Minnesota
Source: Ownwell
$302,200
$478,575
$654,950
Average Belle Plaine Assessed Value
$302,200
Average Scott County Assessed Value
$388,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belle Plaine, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56011 | $203,400 | $252,950 | $302,200 | $359,750 | $532,900 |
Source: Ownwell
Property Tax Bills Across Belle Plaine, Minnesota
In Belle Plaine, located in Scott County, MN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The median home price in Belle Plaine is $302,200. Property taxes are determined by multiplying the assessed value by the local tax rate, which varies depending on the specific needs and budget of the local government and school districts. For instance, the tax bill at the 25th percentile is $3,244, while at the 75th percentile, it reaches $4,719. Several factors influence the property tax bill, including the property's market value, any applicable exemptions or deductions, and local tax levies. Homeowners in Belle Plaine can expect their tax bills to reflect the services and infrastructure funded by these taxes, such as schools, roads, and emergency services. Compared to the national median property tax rate of 0.99%, the tax obligations in Belle Plaine can significantly impact household budgets, especially for those with higher-valued properties.
Average Belle Plaine Tax Bill
$4,086
Average Scott County Tax Bill
$4,100
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Belle Plaine, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56011 | $2,386 | $3,244 | $4,086 | $4,719 | $5,529 |
Source: Ownwell