Puposky, Minnesota Property Taxes
The median property tax rate in Puposky, MN is 0.75%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Puposky, the typical annual property tax bill reaches $1,052, which is significantly below the national median of $2,690. Property taxes in Puposky are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Puposky'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 Puposky or another part of Beltrami County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Puposky, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$1,226
Ownwell’s Puposky Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Puposky with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Puposky 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 Beltrami County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Puposky, Minnesota
Property taxes in Puposky, Minnesota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Puposky is 0.75%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Puposky set these rates annually, and they can vary significantly across different neighborhoods. Each year, Puposky 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 Puposky's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56667 has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these areas compare with Puposky provides valuable insights into the varying tax landscape across Beltrami County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Puposky Tax Rate
0.75%
Average Beltrami County Tax Rate
0.85%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Puposky, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56667 | 0.40% | 0.59% | 0.75% | 0.86% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Puposky, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Puposky, 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 Beltrami 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 Puposky, 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. For instance, the zip code 56667 has both the highest and lowest median tax bill at $1,052. Being aware of these valuation processes in Puposky helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Puposky Assessed Value
$163,400
Average Beltrami County Assessed Value
$190,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Puposky, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56667 | $25,860 | $67,700 | $163,400 | $254,150 | $338,860 |
Source: Ownwell
Property Tax Bills Across Puposky, Minnesota
In Puposky, Beltrami County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, the median home price in Puposky is $163,400. Homeowners in this area can expect property tax bills ranging from the 25th percentile at $558 to the 90th percentile at $2,537. The median tax bill stands at $1,052, aligning with the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Higher property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and long-term financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Puposky Tax Bill
$1,052
Average Beltrami County Tax Bill
$1,559
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Puposky, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56667 | $217 | $558 | $1,052 | $1,796 | $2,537 |
Source: Ownwell