Breezy Point, Minnesota Property Taxes
The median property tax rate in Breezy Point, MN is 0.68%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $35,250 in Breezy Point, the typical annual property tax bill amounts to $180, which is well below the national median of $2,690. Property taxes in Breezy Point are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Breezy Point'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 Breezy Point or another part of Crow Wing County, a deep understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Breezy Point, 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 Breezy Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Breezy Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Breezy Point 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 Crow Wing County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Breezy Point, Minnesota
Property taxes in Breezy Point, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Breezy Point is 0.68%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Breezy Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Breezy Point 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 Breezy Point's effective property tax rate to other areas in Minnesota and the national median. For comparison, the 56472 zip code has both the highest and lowest median property tax rates of 0.68%. Understanding how these cities compare with Breezy Point 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 Breezy Point Tax Rate
0.68%
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 Breezy Point, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56472 | 0.42% | 0.55% | 0.68% | 0.71% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Breezy Point, Minnesota
In Breezy Point, 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. In Breezy Point, 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 example, the median home price in Breezy Point is $35,250, with tax bills ranging from $158 at the 25th percentile to $1,542 at the 90th percentile. The highest median tax bill, $180, is found in zip code 56472, which also has the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Breezy Point Assessed Value
$35,250
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 Breezy Point, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56472 | $23,250 | $23,900 | $35,250 | $73,175 | $216,100 |
Source: Ownwell
Property Tax Bills Across Breezy Point, Minnesota
In Breezy Point, located in Crow Wing 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. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the assessed value, including the home's size, age, location, and condition. For homeowners, understanding these factors is crucial as they directly impact their tax obligations. In Breezy Point, the median home price is $35,250, resulting in a range of tax bills. For example, the 25th percentile tax bill is $158, while the 75th percentile tax bill is $452. At the 90th percentile, the tax bill can reach up to $1,542. Compared to the national median property tax rate of 0.99%, Breezy Point's rates offer a unique perspective on property tax burdens, affecting homeowners' financial planning and long-term investment decisions.
Average Breezy Point Tax Bill
$180
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 Breezy Point, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56472 | $86 | $158 | $180 | $452 | $1,542 |
Source: Ownwell