Belle Plaine, Minnesota Property Taxes
The median property tax rate in Belle Plaine, MN is 0.74%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Belle Plaine at $542,400, the typical annual property tax bill amounts to $3,545, surpassing the national median of $2,690. Property taxes in Belle Plaine are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Belle Plaine'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 Belle Plaine 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
Belle Plaine, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$4,014
Ownwell’s BELLE PLAINE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BELLE PLAINE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BELLE PLAINE 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 Belle Plaine, Minnesota
Property taxes in Belle Plaine, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belle Plaine is 1.15%, higher than both the Minnesota state median of 1.02% and the U.S. national median of 0.99%. Local government entities within Belle Plaine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belle Plaine 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 Belle Plaine's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56011 zip code has the highest median property tax rate of 1.15%, while the 56011 zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Belle Plaine provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belle Plaine Tax Rate
0.74%
Average Carver County Tax Rate
1.09%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belle Plaine, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56011 | 0.26% | 0.40% | 0.74% | 0.80% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Belle Plaine, Minnesota
In Belle Plaine, 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 Carver 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 Belle Plaine, 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. Belle Plaine’s median home price is $542,400, and the median tax bill in the 56011 zip code stands at $3,545. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Belle Plaine Assessed Value
$542,400
Average Carver County Assessed Value
$399,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belle Plaine, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56011 | $356,480 | $417,250 | $542,400 | $823,100 | $1,344,600 |
Source: Ownwell
Property Tax Bills Across Belle Plaine, Minnesota
In Belle Plaine, Carver 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 and reflects the market value of the property. This value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $542,400, homeowners in Belle Plaine can expect a range of property tax bills. The 25th percentile tax bill stands at $2,880, while the 75th percentile reaches $4,422, and the 90th percentile can go up to $6,866. These figures highlight the variability in tax bills depending on the property's assessed value and specific local rates. Compared to the national median property tax rate of 0.99%, Belle Plaine's property tax rates can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding these factors is crucial for homeowners to anticipate their annual expenses accurately.
Average Belle Plaine Tax Bill
$3,545
Average Carver County Tax Bill
$4,166
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Belle Plaine, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56011 | $1,997 | $2,880 | $3,545 | $4,422 | $6,866 |
Source: Ownwell