Blackduck, Minnesota Property Taxes
The median property tax rate in Blackduck, 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 $149,000 in Blackduck, the typical annual property tax bill is $1,141, significantly below the national median of $2,690. Property taxes in Blackduck are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Blackduck'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 Blackduck or another part of Beltrami County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blackduck, 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 Blackduck Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blackduck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blackduck 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 Blackduck, Minnesota
Property taxes in Blackduck, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blackduck is 0.84%, which is below the U.S. national median of 0.99%. Local government entities within Blackduck set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blackduck 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 Blackduck's effective property tax rate to other zip codes in Beltrami County and the national median. For comparison, the 56663 zip code has the highest median property tax rate of 0.86%, while the 56630 zip code has the lowest median tax rate of 0.84%. Understanding how these areas compare with Blackduck provides valuable insights into the varying tax landscape across Beltrami County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blackduck Tax Rate
0.84%
Average Beltrami County Tax Rate
0.85%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blackduck, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56630 | 0.46% | 0.65% | 0.84% | 1.09% | 1.56% |
| 56663 | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Blackduck, Minnesota
In Blackduck, 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 Beltrami County Assessor's Office 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 Blackduck, 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. For instance, the median home price in Blackduck is $149,000, with tax bills ranging from $586 at the 25th percentile to $2,565 at the 90th percentile. The highest median tax bill is $1,142 in zip code 56630, while the lowest is $588 in zip code 56663. By understanding 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 Blackduck helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Blackduck Assessed Value
$149,000
Average Beltrami County Assessed Value
$190,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blackduck, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56630 | $16,520 | $70,075 | $151,200 | $226,250 | $309,010 |
| 56663 | $68,100 | $68,100 | $68,100 | $68,100 | $68,100 |
Source: Ownwell
Property Tax Bills Across Blackduck, Minnesota
In Blackduck, Beltrami County, MN, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Blackduck is $149,000. Homeowners in the area can expect their property tax bills to vary significantly, with the 25th percentile at $586 and the 75th percentile reaching $1,768. At the 90th percentile, tax bills can climb to $2,565. The highest median tax bill in the county is $1,142, found in the 56630 zip code, while the lowest median tax bill is $588 in the 56663 zip code. These variations in tax bills reflect differences in property values and local tax rates. Compared to the national median property tax rate of 0.99%, the property tax rates in Blackduck can have a notable impact on homeowners, influencing their overall cost of living and financial planning.
Average Blackduck Tax Bill
$1,141
Average Beltrami County Tax Bill
$1,559
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Blackduck, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56630 | $199 | $586 | $1,142 | $1,772 | $2,566 |
| 56663 | $588 | $588 | $588 | $588 | $588 |
Source: Ownwell