Buhl, Minnesota Property Taxes
The median property tax rate in Buhl, MN is 0.84%, 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 $46,600 in Buhl, the typical annual property tax bill amounts to $299, significantly below the national median of $2,690. Property taxes in Buhl are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Buhl'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 Buhl or another part of St. Louis County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buhl, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Buhl Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buhl with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buhl 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 Buhl, Minnesota
Property taxes in Buhl, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buhl is 0.84%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Buhl set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buhl 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 Buhl's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55713 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Buhl 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 Buhl Tax Rate
0.84%
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 Buhl, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55713 | 0.28% | 0.40% | 0.84% | 1.36% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Buhl, Minnesota
In Buhl, 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 St. Louis 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 Buhl, 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 Buhl helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $299 in zip code 55713, which is also the lowest median tax bill, reflecting a uniformity in property tax assessments.
Average Buhl Assessed Value
$46,600
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 Buhl, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55713 | $1,500 | $12,150 | $46,600 | $78,200 | $127,400 |
Source: Ownwell
Property Tax Bills Across Buhl, Minnesota
In Buhl, located in St. Louis County, MN, property tax bills are calculated based on the assessed value of a home. The median home price in Buhl is $46,600, and property taxes are determined by multiplying this assessed value by the local tax rate. Several factors influence the final tax bill, including the property's market value, any applicable exemptions, and the local tax rate set by the county. Homeowners in Buhl experience a range of tax bills. For instance, those in the 25th percentile pay around $116 annually, while those in the 75th percentile face bills closer to $694. At the higher end, the 90th percentile sees tax bills reaching up to $1,199. The highest and lowest median tax bills in the area are both $299, indicating some consistency in tax assessments within the zip code 55713. Compared to the national median property tax rate of 0.99%, Buhl's property taxes are relatively modest, which can be advantageous for homeowners looking to manage their annual expenses.
Average Buhl Tax Bill
$299
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 Buhl, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55713 | $39 | $116 | $299 | $694 | $1,199 |
Source: Ownwell