Osage, Minnesota Property Taxes
The median property tax rate in Osage, MN is 0.70%, 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 $210,100 in Osage, the typical annual property tax bill is approximately $1,382, falling below the national median of $2,690. Property taxes in Osage are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Osage'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 Osage or another part of Becker County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Osage, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,471
Ownwell’s Osage Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Osage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osage to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and make informed financial decisions. 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 Osage, Minnesota
Property taxes in Osage, Minnesota, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Osage is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Osage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osage 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 Osage's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56570 in Becker County has the same median property tax rate of 0.70%. Understanding how these cities compare with Osage provides valuable insights into the varying tax landscape across Becker County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Osage Tax Rate
0.70%
Average Becker County Tax Rate
0.72%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osage, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56570 | 0.55% | 0.65% | 0.70% | 0.74% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Osage, Minnesota
In Osage, 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 Becker 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 in Osage 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 Osage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Osage is $210,100, with the zip code 56570 showing both the highest and lowest median tax bill at $1,382.
Average Osage Assessed Value
$210,100
Average Becker County Assessed Value
$241,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Osage, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56570 | $47,000 | $114,075 | $210,100 | $324,375 | $439,450 |
Source: Ownwell
Property Tax Bills Across Osage, Minnesota
In Osage, located in Becker County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For context, the median home price in Osage is $210,100. Homeowners in the 25th percentile can expect a tax bill of around $743, while those in the 75th percentile might see a bill closer to $2,152. At the 90th percentile, the tax bill can reach up to $3,043. Various factors influence these tax bills, including the home's market value, local tax rates, and any applicable exemptions or deductions. The highest median tax bill in Becker County is $1,382, which is significantly higher than the national median property tax rate of 0.99%. These property taxes directly impact homeowners by contributing to public services such as schools, infrastructure, and emergency services, thereby affecting both their financial planning and community quality.
Average Osage Tax Bill
$1,382
Average Becker County Tax Bill
$1,854
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Osage, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56570 | $303 | $743 | $1,382 | $2,152 | $3,043 |
Source: Ownwell