Pierz, Minnesota Property Taxes
The median property tax rate in Pierz, MN is 0.61%, notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Pierz at $239,100, the typical annual property tax bill amounts to $1,042, significantly less than the national median of $2,690. Property taxes in Pierz are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Pierz's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Pierz 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
Pierz, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,459
Ownwell’s Pierz Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pierz with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pierz 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 Pierz, Minnesota
Property taxes in Pierz, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pierz is 0.61%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Pierz set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pierz 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 Pierz's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56364 has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Pierz 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 Pierz Tax Rate
0.61%
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 Pierz, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56364 | 0.32% | 0.47% | 0.61% | 0.68% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Pierz, Minnesota
In Pierz, 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 local 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 Pierz, 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 Pierz helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Pierz is $1,042 in the 56364 zip code. The lowest median tax bill is also $1,042 in the same zip code.
Average Pierz Assessed Value
$239,100
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 Pierz, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56364 | $28,210 | $127,050 | $239,100 | $291,700 | $355,180 |
Source: Ownwell
Property Tax Bills Across Pierz, Minnesota
In Pierz, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the home's size, location, and market conditions. For homeowners in Pierz, the median home price stands at $239,100, with property tax bills varying widely. The 25th percentile tax bill is $753, while the 75th percentile reaches $1,754, and the 90th percentile can go up to $2,053. Comparatively, the national median property tax rate is 0.99%, making Pierz's property taxes relatively moderate. These taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the overall quality of life in the area. Understanding how these bills are calculated helps homeowners anticipate their annual expenses and manage their budgets more effectively.
Average Pierz Tax Bill
$1,042
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 Pierz, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56364 | $335 | $753 | $1,042 | $1,754 | $2,053 |
Source: Ownwell