Baxter, Minnesota Property Taxes
The median property tax rate in Baxter, MN is 0.94%, 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 $292,800 in Baxter, the typical annual property tax bill is approximately $2,700, slightly below the national median of $2,690. Property taxes in Baxter are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Baxter'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 Baxter or another part of Crow Wing County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Baxter, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$2,752
Ownwell’s Baxter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baxter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baxter 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 Baxter, Minnesota
Property taxes in Baxter, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Baxter is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Baxter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baxter 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 Baxter's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56425 zip code has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these cities compare with Baxter provides valuable insights into the varying tax landscape across Crow Wing County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baxter Tax Rate
0.94%
Average Crow Wing County Tax Rate
0.59%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baxter, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56425 | 0.58% | 0.90% | 0.94% | 1.02% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Baxter, Minnesota
In Baxter, 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 Crow Wing 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. 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 Baxter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Baxter is $2,700 in the 56425 zip code, while the lowest median tax bill is also $2,700 in the same zip code.
Average Baxter Assessed Value
$292,800
Average Crow Wing County Assessed Value
$265,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baxter, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56425 | $73,400 | $226,800 | $292,800 | $320,200 | $382,300 |
Source: Ownwell
Property Tax Bills Across Baxter, Minnesota
In Baxter, located in Crow Wing County, 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 property tax rate to determine the tax bill. For example, the median home price in Baxter is $292,800, and homeowners can expect varying tax bills depending on their property's value. The 25th percentile tax bill is approximately $1,997, while the 75th percentile tax bill reaches around $3,133. At the 90th percentile, homeowners might see tax bills as high as $3,696. Factors that influence the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners in Baxter should be aware of these factors as they significantly impact their annual expenses and the overall affordability of their homes.
Average Baxter Tax Bill
$2,700
Average Crow Wing County Tax Bill
$1,562
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Baxter, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56425 | $462 | $1,997 | $2,700 | $3,133 | $3,696 |
Source: Ownwell