Shevlin, Minnesota Property Taxes
The median property tax rate in Shevlin, MN is 0.79%, 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 $159,700 in Shevlin, the typical annual property tax bill is $1,062, significantly below the national median of $2,690. Property taxes in Shevlin 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 Shevlin'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 Shevlin 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
Shevlin, 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 Shevlin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shevlin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shevlin 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 Shevlin, Minnesota
Property taxes in Shevlin, Minnesota, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shevlin is 0.79%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Shevlin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shevlin 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 Shevlin's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56676 has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Shevlin 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 Shevlin Tax Rate
0.79%
Average Beltrami County Tax Rate
0.85%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shevlin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56676 | 0.43% | 0.65% | 0.79% | 0.89% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Shevlin, Minnesota
In Shevlin, 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 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 Shevlin, 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 Shevlin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Shevlin's median home price stands at $159,700. The tax bill at the 25th percentile is $569, while at the 75th percentile, it is $1,708. The highest median tax bill is $1,062 in zip code 56676, which is also the lowest median tax bill in the area.
Average Shevlin Assessed Value
$159,700
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 Shevlin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56676 | $35,600 | $74,850 | $159,700 | $259,550 | $369,600 |
Source: Ownwell
Property Tax Bills Across Shevlin, Minnesota
In Shevlin, located in Beltrami County, MN, property tax bills are calculated based on the assessed value of a home. The median home price in this region stands at $159,700. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the property's location, size, and improvements. For example, homeowners in the 25th percentile can expect a tax bill around $569, while those in the 75th percentile might see a bill closer to $1,708. At the 90th percentile, the tax bill can reach up to $2,798. The property tax rate in Shevlin is relatively competitive when compared to the national median property tax rate of 0.99%. Homeowners in Shevlin benefit from a balanced approach to taxation, ensuring that property taxes remain manageable. This can significantly impact household budgets, making it essential for homeowners to stay informed about their property's assessed value and any potential exemptions they may qualify for.
Average Shevlin Tax Bill
$1,062
Average Beltrami County Tax Bill
$1,559
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Shevlin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56676 | $268 | $569 | $1,062 | $1,708 | $2,798 |
Source: Ownwell