Burnsville, Minnesota Property Taxes
The median property tax rate in Burnsville, MN is 1.07%, slightly higher than the national median of 0.99% but lower than the Minnesota state median of 1.11%. With the median home value in Burnsville at $330,800, the typical annual property tax bill reaches $3,626, surpassing the national median of $2,690. Property taxes in Burnsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Burnsville'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 Burnsville 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
Burnsville, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$3,540
Ownwell’s Burnsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burnsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burnsville 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 Burnsville, Minnesota
Property taxes in Burnsville, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burnsville is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Burnsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burnsville 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 Burnsville's effective property tax rate to other areas in Dakota County and the national median. For comparison, the 55306 zip code has the highest median property tax rate of 1.13%, while the 55337 zip code has the lowest median tax rate of 1.07%. Understanding how these areas compare with Burnsville provides valuable insights into the varying tax landscape across Dakota County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burnsville Tax Rate
1.07%
Average Dakota County Tax Rate
1.06%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burnsville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55306 | 1.06% | 1.11% | 1.13% | 1.21% | 1.27% |
| 55337 | 0.99% | 1.05% | 1.07% | 1.09% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Burnsville, Minnesota
In Burnsville, 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 Dakota 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 Burnsville, 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. For instance, zip code 55306 has the highest median tax bill at $4,215, while zip code 55337 has the lowest at $3,500. Being aware of these valuation processes in Burnsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Burnsville Assessed Value
$330,800
Average Dakota County Assessed Value
$344,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burnsville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55306 | $18,782 | $217,100 | $345,000 | $425,525 | $538,390 |
| 55337 | $185,110 | $243,000 | $327,600 | $381,175 | $442,000 |
Source: Ownwell
Property Tax Bills Across Burnsville, Minnesota
In Burnsville, located in Dakota County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Burnsville stands at $330,800. The property tax rate is applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including the home's size, age, location, and market conditions. Homeowners in Burnsville can expect their tax bills to vary significantly. For instance, the 25th percentile of tax bills is around $2,670, while the 75th percentile reaches $4,346. The 90th percentile can go as high as $5,245, indicating a wide range of tax liabilities. Specific zip codes also show variation, with the highest median tax bill in 55306 at $4,215 and the lowest in 55337 at $3,500. These property tax bills directly impact homeowners by affecting their annual budget and overall cost of homeownership. Comparatively, Burnsville's property tax rates are higher than the national median property tax rate of 0.99%, which can influence decisions on buying or selling property in the area.
Average Burnsville Tax Bill
$3,626
Average Dakota County Tax Bill
$3,728
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Burnsville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55306 | $2,346 | $3,202 | $4,215 | $5,168 | $6,806 |
| 55337 | $1,696 | $2,576 | $3,500 | $4,132 | $4,832 |
Source: Ownwell