Brainerd, Minnesota Property Taxes
The median property tax rate in Brainerd, MN is 0.64%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Brainerd, the typical annual property tax bill reaches $3,203, surpassing the national median of $2,690. Property taxes in Brainerd 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 Brainerd'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 Brainerd 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
Brainerd, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Brainerd Property Tax Bill Calculator is designed to assist homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Brainerd with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Brainerd to provide an estimate of your property tax bill. This valuable tool helps you gain a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Brainerd, Minnesota
Property taxes in Brainerd, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brainerd is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Brainerd set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brainerd 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 Brainerd's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56401 has both the highest and lowest median property tax rate of 0.64%. Understanding how these cities compare with Brainerd provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brainerd Tax Rate
0.64%
Average Cass County Tax Rate
0.53%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brainerd, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56401 | 0.58% | 0.62% | 0.64% | 0.70% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Brainerd, Minnesota
In Brainerd, 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 Cass County Assessor 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 Brainerd, 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 Brainerd helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Brainerd, the highest and lowest median tax bills are both $3,203, found in zip code 56401.
Average Brainerd Assessed Value
$512,050
Average Cass County Assessed Value
$248,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brainerd, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56401 | $198,460 | $323,725 | $512,050 | $911,775 | $1,603,940 |
Source: Ownwell
Property Tax Bills Across Brainerd, Minnesota
In Brainerd, located in Cass County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessment considers various factors, including the property's market value, size, location, and any improvements made. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the tax bill. Homeowners in Brainerd experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $2,070, whereas at the 75th percentile, it rises to $6,118. The highest median tax bill in the area is $3,203, which is significantly higher than the national median property tax rate of 0.99%. This variation in tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding these factors is crucial for homeowners to anticipate their property tax obligations accurately.
Average Brainerd Tax Bill
$3,203
Average Cass County Tax Bill
$1,350
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Brainerd, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56401 | $1,169 | $2,070 | $3,203 | $6,118 | $11,335 |
Source: Ownwell