Tenstrike, Minnesota Property Taxes
The median property tax rate in Tenstrike, MN is 0.81%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Tenstrike being $100,550, the typical annual property tax bill amounts to $733, considerably less than the national median of $2,690. Property taxes in Tenstrike are determined based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a comprehensive understanding of Tenstrike's property tax system, exploring the available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Tenstrike or another part of Beltrami County, being well-informed about the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Tenstrike, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$814
Ownwell’s Tenstrike Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tenstrike with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tenstrike 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 Tenstrike, Minnesota
Property taxes in Tenstrike, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tenstrike is 0.81%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Tenstrike set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tenstrike 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 Tenstrike's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56683 has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Tenstrike 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 Tenstrike Tax Rate
0.81%
Average Beltrami County Tax Rate
0.85%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tenstrike, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56683 | 0.48% | 0.70% | 0.81% | 1.00% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Tenstrike, Minnesota
In Tenstrike, 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 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 Tenstrike, 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 Tenstrike helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 56683 has the highest and lowest median tax bill of $733.
Average Tenstrike Assessed Value
$100,550
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 Tenstrike, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56683 | $6,300 | $21,300 | $100,550 | $269,950 | $413,350 |
Source: Ownwell
Property Tax Bills Across Tenstrike, Minnesota
In Tenstrike, Beltrami County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. Homeowners in Tenstrike can expect property tax bills to vary significantly. For instance, the median home price is $100,550, and property tax bills can range from $214 at the 25th percentile to $3,009 at the 90th percentile. The local tax rate in Tenstrike is compared to the national median property tax rate of 0.99%. This rate is applied to the assessed value to determine the annual tax bill. Various factors, such as changes in the housing market and local government budget needs, can influence the assessed value and tax rate, affecting the final tax bill. Homeowners should be aware of these factors as they can significantly impact their annual property tax obligations.
Average Tenstrike Tax Bill
$733
Average Beltrami County Tax Bill
$1,559
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Tenstrike, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56683 | $64 | $214 | $733 | $1,934 | $3,009 |
Source: Ownwell