Browerville, Minnesota Property Taxes
The median property tax rate in Browerville, MN is 0.88%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Browerville at $188,450, the typical annual property tax bill amounts to $1,430, significantly below the national median of $2,690. Property taxes in Browerville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Browerville'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 Browerville or another part of Todd County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Browerville, 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 Browerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Browerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Browerville 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 Browerville, Minnesota
Property taxes in Browerville, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Browerville is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Browerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Browerville 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 Browerville's effective property tax rate to other areas in Todd County and the national median. For comparison, the zip code 56438 has both the highest and lowest median property tax rates in the area, standing at 0.88%. Understanding how these cities compare with Browerville provides valuable insights into the varying tax landscape across Todd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Browerville Tax Rate
0.88%
Average Todd County Tax Rate
0.88%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Browerville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56438 | 0.41% | 0.70% | 0.88% | 1.02% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Browerville, Minnesota
In Browerville, 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 Todd 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 Browerville, 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. With a median home price of $188,450, the property tax bill can vary significantly. For instance, the 25th percentile tax bill is $698, while the 75th percentile tax bill is $2,292, and the 90th percentile tax bill reaches $3,222. The highest and lowest median tax bills are both $1,430, found in the 56438 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Browerville Assessed Value
$188,450
Average Todd County Assessed Value
$198,400
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Browerville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56438 | $5,590 | $88,075 | $188,450 | $314,075 | $437,310 |
Source: Ownwell
Property Tax Bills Across Browerville, Minnesota
In Browerville, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, the median home price in Browerville is $188,450, and property taxes can vary significantly. Homeowners in the 25th percentile pay around $698 annually, while those in the 75th percentile see bills closer to $2,292. The top 10% of property tax bills can reach up to $3,222. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax rates. For homeowners in Browerville, understanding these factors is crucial for financial planning and managing yearly expenses.
Average Browerville Tax Bill
$1,430
Average Todd County Tax Bill
$1,544
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Browerville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56438 | $65 | $698 | $1,430 | $2,292 | $3,222 |
Source: Ownwell