Browns Valley, Minnesota Property Taxes
The median property tax rate in Browns Valley, MN is 0.78%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $197,400 in Browns Valley, the typical annual property tax bill amounts to $1,495, falling below the national median of $2,690. Property taxes in Browns Valley are calculated based on the tax assessed value, which often is less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Browns Valley'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 Browns Valley 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
Browns Valley, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,540
Ownwell’s Browns Valley Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Browns Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Browns Valley to provide an accurate estimate of 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 Browns Valley, Minnesota
Property taxes in Browns Valley, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Browns Valley is 0.78%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Browns Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Browns Valley 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 Browns Valley's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56219 has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Browns Valley provides valuable insights into the varying tax landscape across Big Stone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Browns Valley Tax Rate
0.78%
Average Big Stone County Tax Rate
1.13%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Browns Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56219 | 0.73% | 0.76% | 0.78% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Browns Valley, Minnesota
In Browns Valley, 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 Big Stone 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 Browns Valley, 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 Browns Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,495, found in the zip code 56219.
Property Tax Assessment Values Across Browns Valley, Minnesota
Source: Ownwell
$32,300
$114,850
$197,400
Average Browns Valley Assessed Value
$197,400
Average Big Stone County Assessed Value
$88,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Browns Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56219 | $56,760 | $98,250 | $197,400 | $281,825 | $296,810 |
Source: Ownwell
Property Tax Bills Across Browns Valley, Minnesota
In Browns Valley, located in Big Stone County, MN, property tax bills are determined based on the assessed value of a property and the local tax rate. The median home price in Browns Valley is $197,400, which serves as a benchmark for calculating property taxes. The local tax rate is applied to the assessed value to determine the annual tax bill. Several factors influence the final tax amount, including property size, location, and any applicable exemptions. For instance, the 25th percentile of tax bills is $704, while the 75th percentile reaches up to $2,191, indicating a significant variation based on property characteristics. The highest median tax bill in the area is $1,495, which is below the national median property tax rate of 0.99%. Homeowners in Browns Valley benefit from relatively lower property tax bills compared to the national average, making it a financially appealing location. However, understanding the specific factors that affect individual tax bills is crucial for accurate budgeting and financial planning.
Average Browns Valley Tax Bill
$1,495
Average Big Stone County Tax Bill
$908
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Browns Valley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56219 | $417 | $704 | $1,495 | $2,191 | $2,308 |
Source: Ownwell