Pierz, Minnesota Property Taxes
The median property tax rate in Pierz, MN is 0.82%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $253,100 in Pierz, the typical annual property tax bill is around $1,871, considerably below the national median of $2,690. Property taxes in Pierz are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pierz'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 Pierz or another part of Morrison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pierz, 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 Pierz Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pierz with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pierz 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 Pierz, Minnesota
Property taxes in Pierz, Minnesota, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pierz is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Pierz set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pierz 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 Pierz's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56364 has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Pierz 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 Pierz Tax Rate
0.82%
Average Morrison County Tax Rate
0.85%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pierz, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56364 | 0.32% | 0.54% | 0.82% | 0.97% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Pierz, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pierz, 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 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. 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. For instance, Pierz has a median home price of $253,100, with tax bills ranging from $1,163 at the 25th percentile to $3,552 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,871, found in the 56364 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pierz Assessed Value
$253,100
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 Pierz, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56364 | $94,730 | $163,400 | $253,100 | $380,525 | $562,170 |
Source: Ownwell
Property Tax Bills Across Pierz, Minnesota
In Pierz, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Pierz is $253,100, and homeowners can expect a tax bill that varies significantly within the city. At the 25th percentile, the tax bill is $1,163, while at the 75th percentile, it rises to $2,709. The 90th percentile sees tax bills as high as $3,552. This variation means that homeowners with higher-valued properties or those in more desirable areas may face higher tax bills. Comparatively, the national median property tax rate is 0.99%, providing a benchmark for understanding local rates. Homeowners in Pierz should be aware of these factors, as they directly impact their annual financial obligations.
Average Pierz Tax Bill
$1,871
Average Morrison County Tax Bill
$1,722
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Pierz, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56364 | $558 | $1,163 | $1,871 | $2,709 | $3,552 |
Source: Ownwell