Flensburg, Minnesota Property Taxes
The median property tax rate in Flensburg, MN is 0.95%, slightly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Flensburg at $121,400, the typical annual property tax bill is $1,240, which is below the national median of $2,690. Property taxes in Flensburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Flensburg'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 Flensburg 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
Flensburg, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,153
Ownwell’s Flensburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Flensburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flensburg 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 Morrison County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Flensburg, Minnesota
Property taxes in Flensburg, Minnesota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Flensburg is 0.95%, which is lower than the U.S. national median of 0.99%. Local government entities within Flensburg set these rates annually, and they can vary across different neighborhoods. Each year, Flensburg 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. For comparison, the zip code 56328 has both the highest and lowest median property tax rate of 0.95%. Understanding how these areas compare with Flensburg provides valuable insights into the varying tax landscape across Morrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Flensburg Tax Rate
0.95%
Average Morrison County Tax Rate
0.85%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Flensburg, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56328 | 0.61% | 0.84% | 0.95% | 1.14% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Flensburg, Minnesota
In Flensburg, 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 Morrison 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 Flensburg, 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 Flensburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1240, found in the 56328 zip code, while the lowest is also $1240 in the same zip code.
Average Flensburg Assessed Value
$121,400
Average Morrison County Assessed Value
$210,400
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Flensburg, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56328 | $35,520 | $91,225 | $121,400 | $148,400 | $196,780 |
Source: Ownwell
Property Tax Bills Across Flensburg, Minnesota
In Flensburg, located in Morrison County, MN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the home. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Flensburg, the median home price is $121,400. A homeowner's tax bill can vary significantly; for instance, the 25th percentile tax bill is $716, while the 75th percentile reaches $1,447, and the 90th percentile can go up to $1,942. This variation depends on the property's assessed value and any applicable exemptions. Property taxes in Flensburg can have a notable impact on homeowners, influencing their overall housing costs. With the national median property tax rate being 0.99%, understanding local property tax calculations is crucial for homeowners to manage their finances effectively.
Average Flensburg Tax Bill
$1,240
Average Morrison County Tax Bill
$1,722
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Flensburg, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56328 | $284 | $716 | $1,240 | $1,447 | $1,942 |
Source: Ownwell