Wrenshall, Minnesota Property Taxes
The median property tax rate in Wrenshall, MN is 0.99%, aligning with the national median of 0.99% but lower than the Minnesota state median of 1.11%. With the median home value in Wrenshall at $240,150, the typical annual property tax bill amounts to $2,558, slightly below the national median of $2,690. Property taxes in Wrenshall are based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wrenshall'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 Wrenshall 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
Wrenshall, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$2,377
Ownwell’s Wrenshall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wrenshall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wrenshall 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 Carlton County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wrenshall, Minnesota
Property taxes in Wrenshall, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wrenshall is 0.99%, aligning with the U.S. national median of 0.99%. Local government entities within Wrenshall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wrenshall 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 Wrenshall's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 55797 has the highest median property tax rate of 0.99%, while zip code 55749 has the lowest median tax rate of 0.91%. Understanding how these areas compare with Wrenshall provides valuable insights into the varying tax landscape across Carlton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wrenshall Tax Rate
0.99%
Average Carlton County Tax Rate
1.15%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wrenshall, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55749 | 0.89% | 0.90% | 0.91% | 0.92% | 0.93% |
| 55797 | 0.81% | 0.92% | 0.99% | 1.14% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Wrenshall, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wrenshall, 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 Carlton 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 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 highest median tax bill in Wrenshall is $2,562 in zip code 55797, while the lowest is $2,141 in zip code 55749. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wrenshall Assessed Value
$240,150
Average Carlton County Assessed Value
$213,450
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wrenshall, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55749 | $235,030 | $235,375 | $235,950 | $236,525 | $236,870 |
| 55797 | $87,800 | $160,925 | $240,600 | $307,425 | $375,750 |
Source: Ownwell
Property Tax Bills Across Wrenshall, Minnesota
Property tax bills in Wrenshall, located in Carlton County, MN, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This value is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $240,150 in Wrenshall, homeowners can expect varying tax bills depending on the specific assessed value and applicable exemptions. Factors such as property improvements, location, and market trends significantly influence the assessed value. Homeowners in Wrenshall see tax bills ranging from $1,612 at the 25th percentile to $4,253 at the 90th percentile, indicating a wide variance based on property characteristics and assessments. The highest median tax bill in the area is $2,562, while the lowest is $2,141, reflecting differences within the county. These property taxes are essential for funding local services, impacting homeowners by contributing to community resources and infrastructure.
Average Wrenshall Tax Bill
$2,558
Average Carlton County Tax Bill
$2,610
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Wrenshall, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55749 | $2,087 | $2,108 | $2,141 | $2,174 | $2,195 |
| 55797 | $804 | $1,600 | $2,562 | $3,302 | $4,253 |
Source: Ownwell