Manhattan Beach, Minnesota Property Taxes
The median property tax rate in Manhattan Beach, MN is 0.41%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Manhattan Beach at $249,500, the typical annual property tax bill is $1,018, which is well below the national median of $2,690. Property taxes in Manhattan Beach are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Manhattan Beach'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 Manhattan Beach 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
Manhattan Beach, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$1,023
Ownwell’s Manhattan Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manhattan Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manhattan Beach 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 Manhattan Beach, Minnesota
Property taxes in Manhattan Beach, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manhattan Beach is 0.41%, significantly lower than the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Manhattan Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manhattan Beach 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 Manhattan Beach's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56442 zip code has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these cities compare with Manhattan Beach 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 Manhattan Beach Tax Rate
0.41%
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 Manhattan Beach, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56442 | 0.40% | 0.41% | 0.41% | 0.41% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Manhattan Beach, Minnesota
In Manhattan Beach, 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 Manhattan Beach, 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 Manhattan Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,018 in the 56442 zip code, providing a benchmark for property owners.
Property Tax Assessment Values Across Manhattan Beach, Minnesota
Source: Ownwell
$6,000
$282,050
$558,100
Average Manhattan Beach Assessed Value
$249,500
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 Manhattan Beach, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56442 | $118,620 | $223,500 | $249,500 | $266,300 | $287,840 |
Source: Ownwell
Property Tax Bills Across Manhattan Beach, Minnesota
In Manhattan Beach, Crow Wing County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Manhattan Beach, the median home price is $249,500, and property tax bills can vary significantly. At the 25th percentile, homeowners might expect a tax bill of around $906, while those at the 75th percentile could see bills as high as $1,062. For the top 10% of property values, tax bills may reach up to $1,186. These figures illustrate the range of property tax burdens in the area and how they can impact homeowners differently based on their property's assessed value. Comparatively, the national median property tax rate is 0.99%, highlighting that property tax rates in Manhattan Beach can have a substantial effect on homeowners' annual expenses. Understanding these factors is crucial for homeowners to budget accordingly and anticipate their financial obligations.
Average Manhattan Beach Tax Bill
$1,018
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 Manhattan Beach, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56442 | $482 | $906 | $1,018 | $1,062 | $1,186 |
Source: Ownwell