Eagle Bend, Minnesota Property Taxes
The median property tax rate in Eagle Bend, MN is 0.73%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Eagle Bend at $296,100, the typical annual property tax bill amounts to $1,595, which is well below the national median of $2,690. Property taxes in Eagle Bend are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Eagle Bend'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 Eagle Bend 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
Eagle Bend, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$2,162
Ownwell’s Eagle Bend Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eagle Bend with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eagle Bend 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 Eagle Bend, Minnesota
Property taxes in Eagle Bend, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eagle Bend is 0.73%, lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Eagle Bend set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eagle Bend 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 Eagle Bend's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56446 has both the highest and lowest median property tax rate of 0.73%. Understanding how these cities compare with Eagle Bend provides valuable insights into the varying tax landscape across Todd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eagle Bend Tax Rate
0.73%
Average Douglas County Tax Rate
0.86%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eagle Bend, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56446 | 0.33% | 0.50% | 0.73% | 0.82% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Eagle Bend, Minnesota
In Eagle Bend, Minnesota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Eagle Bend, 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 Eagle Bend helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,595, found in the zip code 56446.
Average Eagle Bend Assessed Value
$296,100
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 Eagle Bend, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56446 | $88,370 | $121,925 | $296,100 | $425,725 | $645,500 |
Source: Ownwell
Property Tax Bills Across Eagle Bend, Minnesota
In Eagle Bend, Douglas County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in this area is $296,100. Homeowners in Eagle Bend can expect property tax bills to vary significantly, with the 25th percentile tax bill at $903 and the 75th percentile reaching up to $2,672. The 90th percentile tax bill is even higher at $3,003. These tax bills are influenced by various factors, including property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, homeowners in Eagle Bend experience a range of tax burdens that can impact their annual expenses. The highest and lowest median tax bills in the area are both $1,595, indicating some consistency within specific zip codes like 56446. Understanding how these factors contribute to the overall tax bill helps homeowners plan and budget more effectively.
Average Eagle Bend Tax Bill
$1,595
Average Douglas County Tax Bill
$2,330
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Eagle Bend, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56446 | $659 | $903 | $1,595 | $2,672 | $3,003 |
Source: Ownwell