Starbuck, Minnesota Property Taxes
The median property tax rate in Starbuck, MN is 0.70%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Starbuck at $256,700, the typical annual property tax bill is $1,974, which is well below the national median of $2,690. Property taxes in Starbuck 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 Starbuck'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 Starbuck or another part of Pope County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Starbuck, 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 Starbuck Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Starbuck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Starbuck 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 Starbuck, Minnesota
Property taxes in Starbuck, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Starbuck is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Starbuck set these rates annually, and they can vary significantly across different neighborhoods. Each year, Starbuck 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 Starbuck's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56381 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Starbuck provides valuable insights into the varying tax landscape across Pope County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Starbuck Tax Rate
0.70%
Average Pope County Tax Rate
0.66%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Starbuck, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56381 | 0.37% | 0.58% | 0.70% | 1.17% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Starbuck, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Starbuck, 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 local appraisal authority 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 Starbuck, 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 Starbuck helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Starbuck is $256,700, with tax bills ranging from $1,259 at the 25th percentile to $4,532 at the 90th percentile. The highest and lowest median tax bills are both $1,974 in zip code 56381.
Average Starbuck Assessed Value
$256,700
Average Pope County Assessed Value
$275,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Starbuck, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56381 | $79,760 | $137,150 | $256,700 | $439,400 | $737,380 |
Source: Ownwell
Property Tax Bills Across Starbuck, Minnesota
Property tax bills in Starbuck, located in Pope County, MN, are calculated based on the assessed value of a property, which is determined by local assessors. This value is then multiplied by the local tax rate to determine the tax bill. The median home price in Starbuck is $256,700, and the property tax rate in this area is assessed at a level comparable to the national median rate of 0.99%. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For instance, homeowners in Starbuck can expect their tax bills to vary significantly: the 25th percentile tax bill is around $1,259, while those in the 75th percentile pay approximately $3,017. At the 90th percentile, the tax bill can reach up to $4,532. These property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. For homeowners, understanding these factors can help in planning their finances and potentially appealing their property tax assessments if they believe their property has been overvalued.
Average Starbuck Tax Bill
$1,974
Average Pope County Tax Bill
$1,948
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Starbuck, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56381 | $722 | $1,259 | $1,974 | $3,017 | $4,532 |
Source: Ownwell