Eagle Bend, Minnesota Property Taxes
The median property tax rate in Eagle Bend, MN is 0.90%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $171,500 in Eagle Bend, the typical annual property tax bill is around $1,340, significantly below the national median of $2,690. Property taxes in Eagle Bend are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Eagle Bend'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 Eagle Bend 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
Eagle Bend, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$1,544
Ownwell’s Eagle Bend Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eagle Bend with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eagle Bend 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 Eagle Bend, Minnesota
Property taxes in Eagle Bend, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eagle Bend is 0.90%, which is slightly below the U.S. national median of 0.99%. Local government entities within Eagle Bend set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eagle Bend 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 Eagle Bend's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56446 has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with Eagle Bend provides valuable insights into the varying tax landscape across Todd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eagle Bend Tax Rate
0.90%
Average Todd County Tax Rate
0.88%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eagle Bend, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56446 | 0.36% | 0.63% | 0.90% | 1.22% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Eagle Bend, Minnesota
In Eagle Bend, 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 Todd 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 Eagle Bend, 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. The median home price in Eagle Bend is $171,500, with tax bills ranging from the 25th percentile at $730 to the 75th percentile at $2,254, and the 90th percentile reaching $3,143. The highest and lowest median tax bills are both $1,340, found in the 56446 zip code. 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 Eagle Bend helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eagle Bend Assessed Value
$171,500
Average Todd County Assessed Value
$198,400
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eagle Bend, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56446 | $15,960 | $81,500 | $171,500 | $301,300 | $450,720 |
Source: Ownwell
Property Tax Bills Across Eagle Bend, Minnesota
In Eagle Bend, Todd County, MN, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $171,500, homeowners can expect varying tax bills depending on their specific circumstances. Tax bills in the 25th percentile are around $730, whereas those in the 75th percentile can reach $2,254, and in the 90th percentile, they can go up to $3,143. These figures are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Eagle Bend's tax rates can significantly impact homeowners' finances. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their budgets accordingly.
Average Eagle Bend Tax Bill
$1,340
Average Todd County Tax Bill
$1,544
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Eagle Bend, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56446 | $190 | $730 | $1,340 | $2,254 | $3,143 |
Source: Ownwell