Bethel, Minnesota Property Taxes
The median property tax rate in Bethel, MN is 0.85%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Bethel, the typical annual property tax bill reaches $3,906, exceeding the national median of $2,690. Property taxes in Bethel are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bethel'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 Bethel 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
Bethel, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$3,867
Ownwell’s Bethel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bethel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bethel 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 Bethel, Minnesota
Property taxes in Bethel, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethel is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Bethel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethel 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 Bethel's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55005 has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Bethel provides valuable insights into the varying tax landscape across Isanti County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethel Tax Rate
0.85%
Average Isanti County Tax Rate
0.95%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55005 | 0.77% | 0.82% | 0.85% | 0.96% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Bethel, Minnesota
In Bethel, 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 Isanti 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 Bethel, 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 Bethel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bethel is $454,950, with the highest median tax bill being $3,906 in the 55005 zip code.
Average Bethel Assessed Value
$454,950
Average Isanti County Assessed Value
$289,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55005 | $359,850 | $382,200 | $454,950 | $665,250 | $721,200 |
Source: Ownwell
Property Tax Bills Across Bethel, Minnesota
Property tax bills in Bethel, located in Isanti County, MN, are determined by assessing the market value of a property and applying the local tax rate. The assessed value is an estimate of the property’s market value, which is then multiplied by the local tax rate to calculate the annual tax bill. In Bethel, the median home price is $454,950, with property tax bills ranging significantly based on this valuation. For instance, homeowners in the 25th percentile can expect to pay around $3,505, while those in the 75th percentile might see bills as high as $5,414. At the 90th percentile, tax bills can reach up to $5,973. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners should be aware that higher property values generally lead to higher tax bills. Compared to the national median property tax rate of 0.99%, Bethel’s tax rates reflect the local economic conditions and funding needs. Understanding these factors can help homeowners anticipate their tax obligations and budget accordingly.
Average Bethel Tax Bill
$3,906
Average Isanti County Tax Bill
$2,982
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethel, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55005 | $3,330 | $3,505 | $3,906 | $5,414 | $5,973 |
Source: Ownwell