Belgrade, Minnesota Property Taxes
The median property tax rate in Belgrade, MN is 0.85%, 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 Belgrade at $272,300, the typical annual property tax bill amounts to $2,044, falling below the national median of $2,690. Property taxes in Belgrade are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Gaining a thorough understanding of Belgrade's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Belgrade 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
Belgrade, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Belgrade Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Belgrade with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belgrade 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 Belgrade, Minnesota
Property taxes in Belgrade, Minnesota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Belgrade is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Belgrade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belgrade 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 Belgrade's effective property tax rate to other counties in Minnesota and the national median. For comparison, the highest median property tax rate in the region is also 0.85%, located in zip code 56312, while the lowest median tax rate is similarly 0.85% in the same zip code. Understanding how these cities compare with Belgrade provides valuable insights into the varying tax landscape across Kandiyohi County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belgrade Tax Rate
0.85%
Average Kandiyohi County Tax Rate
1.04%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belgrade, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56312 | 0.37% | 0.58% | 0.85% | 0.97% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Belgrade, Minnesota
In Belgrade, 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 Kandiyohi 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 Belgrade, 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 Belgrade is $272,300, with tax bills ranging from $1,280 at the 25th percentile to $4,269 at the 90th percentile. 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 Belgrade helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Belgrade, Minnesota
Source: Ownwell
$150,200
$1,044,050
$1,937,900
Average Belgrade Assessed Value
$272,300
Average Kandiyohi County Assessed Value
$222,850
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belgrade, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56312 | $96,280 | $160,400 | $272,300 | $419,775 | $644,340 |
Source: Ownwell
Property Tax Bills Across Belgrade, Minnesota
In Belgrade, located in Kandiyohi 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. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors that influence the tax bill include the property's location, size, and any improvements made. For instance, the median home price in Belgrade is $272,300. Homeowners in the 25th percentile can expect a tax bill around $1,280, while those in the 75th percentile may see bills as high as $3,244. At the 90th percentile, tax bills can reach up to $4,269. These property taxes significantly impact homeowners by influencing their annual housing costs. Compared to the national median property tax rate of 0.99%, Belgrade's rates can vary, reflecting the unique economic and property market conditions of the area.
Average Belgrade Tax Bill
$2,044
Average Kandiyohi County Tax Bill
$2,360
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Belgrade, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56312 | $656 | $1,280 | $2,044 | $3,244 | $4,269 |
Source: Ownwell