Browns Valley, Minnesota Property Taxes
The median property tax rate in Browns Valley, MN is 2.18%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Browns Valley at $44,400, the typical annual property tax bill reaches $698, which is significantly below the national median of $2,690. Property taxes in Browns Valley 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 Browns Valley'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 Browns Valley 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
Browns Valley, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.18%
Estimate Property Tax Bill
$968
Ownwell’s Browns Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Browns Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Browns Valley 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 Browns Valley, Minnesota
Property taxes in Browns Valley, Minnesota, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Browns Valley is 2.18%, significantly higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Browns Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Browns Valley 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 Browns Valley's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56219 has the highest median property tax rate of 2.18%, while the same zip code also has the lowest median tax rate of 2.18%. Understanding how these figures compare with Browns Valley provides valuable insights into the varying tax landscape across Traverse County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Browns Valley Tax Rate
2.18%
Average Traverse County Tax Rate
1.63%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Browns Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56219 | 0.55% | 0.58% | 2.18% | 3.23% | 3.64% |
Source: Ownwell
Property Tax Assessment Values Across Browns Valley, Minnesota
In Browns Valley, 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 Traverse 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 Browns Valley, 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 Browns Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 56219, with a median tax bill of $698.
Property Tax Assessment Values Across Browns Valley, Minnesota
Source: Ownwell
$22,200
$539,550
$1,056,900
Average Browns Valley Assessed Value
$44,400
Average Traverse County Assessed Value
$55,600
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Browns Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56219 | $4,860 | $19,500 | $44,400 | $93,550 | $169,060 |
Source: Ownwell
Property Tax Bills Across Browns Valley, Minnesota
In Browns Valley, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to compute the annual tax bill. For homeowners in Browns Valley, the median home price is $44,400, significantly lower than the national median. The tax bill can vary widely; for instance, those in the 25th percentile pay around $382, while those in the 75th percentile pay up to $1,128. At the 90th percentile, the tax bill can reach as high as $1,824. Factors such as property improvements, market trends, and local government budgets influence the assessed value and, consequently, the tax bill. The highest and lowest median tax bills in the area are both recorded at $698 in the zip code 56219, showcasing some consistency in certain neighborhoods. These property taxes fund essential public services, impacting homeowners by contributing to local infrastructure, schools, and public safety.
Average Browns Valley Tax Bill
$698
Average Traverse County Tax Bill
$718
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Browns Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56219 | $142 | $382 | $698 | $1,128 | $1,824 |
Source: Ownwell