Brimson, Minnesota Property Taxes
The median property tax rate in Brimson, MN is 0.87%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $93,700 in Brimson, the typical annual property tax bill amounts to $736, significantly below the national median of $2,690. Property taxes in Brimson are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Brimson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Brimson or elsewhere in St. Louis County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brimson, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$815
Ownwell’s Brimson Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Brimson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brimson 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 Brimson, Minnesota
Property taxes in Brimson, Minnesota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Brimson stands at 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Brimson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brimson 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 Brimson's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 55602 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these figures compare with Brimson provides valuable insights into the varying tax landscape across St. Louis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brimson Tax Rate
0.87%
Average St. Louis County Tax Rate
1.26%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brimson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55602 | 0.58% | 0.84% | 0.87% | 0.90% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Brimson, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Brimson, Minnesota. 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 St. Louis County Assessor 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. Assessment notices in Brimson 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 Brimson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 55602 has the highest and lowest median tax bill, both at $736.
Average Brimson Assessed Value
$93,700
Average St. Louis County Assessed Value
$137,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brimson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55602 | $13,240 | $48,000 | $93,700 | $142,700 | $198,560 |
Source: Ownwell
Property Tax Bills Across Brimson, Minnesota
In Brimson, located in St. Louis 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 is intended to reflect the market value of the property. For homeowners in Brimson, the median home price stands at $93,700. The property tax rate in Brimson is applied to this assessed value to determine the annual tax bill. For example, the 25th percentile of tax bills in Brimson is $370, while the 75th percentile reaches $1,168. At the 90th percentile, homeowners can expect to pay around $1,671. These figures illustrate the range of tax burdens that homeowners may face, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Brimson's tax bills can vary significantly, impacting homeowners' financial planning. The highest median tax bill recorded in the area is $736, indicating that property taxes are a crucial consideration for residents in this region.
Average Brimson Tax Bill
$736
Average St. Louis County Tax Bill
$1,738
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Brimson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55602 | $101 | $370 | $736 | $1,168 | $1,671 |
Source: Ownwell