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 $225,500, the typical annual property tax bill is $1,896, falling below the national median of $2,690. Property taxes in Belgrade are calculated based on the tax assessed value, which often comes in lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Belgrade'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 Belgrade or another part of Stearns County, grasping 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 critical 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 areas in Minnesota and the national median. For comparison, the zip code 56312 has the same median property tax rate of 0.85%. Understanding how these cities compare with Belgrade provides valuable insights into the varying tax landscape across Stearns County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belgrade Tax Rate
0.85%
Average Stearns County Tax Rate
1.08%
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 | 0.28% | 0.44% | 0.85% | 1.17% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Belgrade, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Belgrade, MN. The market value represents 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 Stearns 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. For instance, in Belgrade, the median home price is $225,500, with tax bills ranging from $1,181 at the 25th percentile to $4,258 at the 90th percentile. The highest and lowest median tax bill in the area is $1,896, found in zip code 56312. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Belgrade Assessed Value
$225,500
Average Stearns County Assessed Value
$269,100
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 | $77,380 | $126,750 | $225,500 | $450,500 | $1,160,140 |
Source: Ownwell
Property Tax Bills Across Belgrade, Minnesota
In Belgrade, located in Stearns County, MN, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The assessed value is determined by local assessors who evaluate factors such as market conditions, property size, and home characteristics. For example, with a median home price of $225,500, homeowners can expect to pay a tax bill that varies significantly based on these assessments. The tax bill for the 25th percentile is $1,181, while for the 75th percentile, it rises to $2,958. For those at the 90th percentile, the tax bill can reach up to $4,258. These variations highlight how different factors influence the final tax amount. Compared to the national median property tax rate of 0.99%, Belgrade's property tax rates can have a substantial financial impact on homeowners, affecting their annual budgeting and overall housing affordability. Understanding these factors helps homeowners better anticipate their financial obligations.
Average Belgrade Tax Bill
$1,896
Average Stearns County Tax Bill
$2,818
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 | $702 | $1,181 | $1,896 | $2,958 | $4,258 |
Source: Ownwell