Brandon, Minnesota Property Taxes
The median property tax rate in Brandon, MN is 0.88%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Brandon at $215,450, the typical annual property tax bill amounts to $2,071, falling below the national median of $2,690. Property taxes in Brandon are calculated based on the assessed value, often lower than market value due to exemptions like the primary residence and agricultural exemptions. Understanding Brandon'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 Brandon 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
Brandon, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,896
Ownwell’s Brandon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brandon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brandon 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 Brandon, Minnesota
Property taxes in Brandon, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brandon is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Brandon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brandon 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 Brandon's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56315 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Brandon provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brandon Tax Rate
0.88%
Average Douglas County Tax Rate
0.86%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brandon, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56315 | 0.59% | 0.79% | 0.88% | 0.97% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Brandon, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Brandon, Minnesota. 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 Douglas 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 Brandon, 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. The median home price in Brandon is $215,450, with the 25th percentile tax bill at $1,004 and the 75th percentile tax bill at $3,199. Notably, the highest and lowest median tax bills are both $2,071 in the zip code 56315. 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 Brandon Assessed Value
$215,450
Average Douglas County Assessed Value
$264,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brandon, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56315 | $31,000 | $109,500 | $215,450 | $372,075 | $548,500 |
Source: Ownwell
Property Tax Bills Across Brandon, Minnesota
In Brandon, Douglas 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. This assessed value is then multiplied by the local tax rate to generate the tax bill. For homeowners in Brandon, the median home price is $215,450. Property tax bills can vary significantly, with the 25th percentile at $1,004 and the 75th percentile at $3,199. At the higher end, the 90th percentile tax bill reaches $4,389. Comparatively, the national median property tax rate stands at 0.99%, highlighting how local rates and property values can lead to substantial differences in tax bills. These property taxes are crucial as they fund essential community services such as schools, public safety, and infrastructure. Homeowners need to be aware of these factors, as higher property taxes can impact the overall affordability of owning a home in Brandon.
Average Brandon Tax Bill
$2,071
Average Douglas County Tax Bill
$2,330
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Brandon, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56315 | $274 | $1,004 | $2,071 | $3,199 | $4,389 |
Source: Ownwell