Wrenshall, Minnesota Property Taxes
The median property tax rate in Wrenshall, 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 Wrenshall at $189,200, the typical annual property tax bill amounts to $1,612, significantly below the national median of $2,690. Property taxes in Wrenshall are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wrenshall'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 Wrenshall or another part of Pine County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wrenshall, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,608
Ownwell’s Wrenshall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wrenshall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wrenshall 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 Wrenshall, Minnesota
Property taxes in Wrenshall, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wrenshall is 1.15%, higher than both the Minnesota state median of 1.12% and the U.S. national median of 0.99%. Local government entities within Wrenshall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wrenshall 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 Wrenshall's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55797 zip code has the highest median property tax rate of 1.15%, while the 55797 zip code has the lowest median tax rate of 1.15%. Understanding how these cities compare with Wrenshall provides valuable insights into the varying tax landscape across Pine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wrenshall Tax Rate
0.85%
Average Pine County Tax Rate
0.75%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wrenshall, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55749 | 0.61% | 0.72% | 0.85% | 0.94% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Wrenshall, Minnesota
In Wrenshall, 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 Pine 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 Wrenshall, 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 Wrenshall 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 $1,612 in the 55749 zip code, while the lowest is also $1,612.
Average Wrenshall Assessed Value
$189,200
Average Pine County Assessed Value
$174,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wrenshall, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55749 | $60,800 | $128,650 | $189,200 | $275,900 | $395,660 |
Source: Ownwell
Property Tax Bills Across Wrenshall, Minnesota
In Wrenshall, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Wrenshall is $189,200, and property taxes are applied to this assessed value. The tax rate in Wrenshall is influenced by county, city, and school district budgets, and it determines the final tax bill homeowners receive. Several factors contribute to the overall tax bill, including property characteristics, local government needs, and public services funding. For example, the 25th percentile tax bill is $653, while the 75th percentile tax bill rises to $2,526, indicating a range of tax burdens depending on the property's assessed value and other factors. The highest median tax bill in the area is $1,612, consistent across the 55749 zip code. Homeowners in Wrenshall experience property taxes that can significantly impact their annual expenses, with higher-valued properties facing steeper tax bills. This variation highlights the importance of accurate assessments and the influence of local government budgetary decisions.
Average Wrenshall Tax Bill
$1,612
Average Pine County Tax Bill
$1,286
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Wrenshall, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55749 | $375 | $653 | $1,612 | $2,526 | $3,653 |
Source: Ownwell