Clearbrook, Minnesota Property Taxes
The median property tax rate in Clearbrook, MN is 0.64%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Clearbrook, the typical annual property tax bill reaches $894, well below the national median of $2,690. Property taxes in Clearbrook 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 Clearbrook'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 Clearbrook 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
Clearbrook, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$788
Ownwell’s Clearbrook Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Clearbrook with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Clearbrook to project your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the figure assigned by Clearwater County for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Clearbrook, Minnesota
Property taxes in Clearbrook, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clearbrook is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Clearbrook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clearbrook 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 Clearbrook's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56634 zip code has both the highest and lowest median property tax rate of 0.64%. Understanding how these cities compare with Clearbrook provides valuable insights into the varying tax landscape across Clearwater County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clearbrook Tax Rate
0.64%
Average Clearwater County Tax Rate
0.60%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clearbrook, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56634 | 0.44% | 0.55% | 0.64% | 1.14% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Clearbrook, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Clearbrook, 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 Clearwater 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 in Clearbrook 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. The median home price in Clearbrook is $123,050, with tax bills ranging from $508 at the 25th percentile to $2,032 at the 90th percentile. Notably, the highest and lowest median tax bills are both $894, found in the zip code 56634. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clearbrook Assessed Value
$123,050
Average Clearwater County Assessed Value
$127,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clearbrook, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56634 | $32,850 | $69,100 | $123,050 | $200,850 | $282,690 |
Source: Ownwell
Property Tax Bills Across Clearbrook, Minnesota
Property tax bills in Clearbrook, located in Clearwater County, MN, are determined by assessing the market value of a property and applying the local tax rate. Homeowners in Clearbrook experience a median home price of $123,050. The assessed value of a property is a crucial factor, as it forms the basis for calculating the tax bill. Local tax authorities then apply the tax rate to this assessed value to determine the annual property tax owed. For homeowners in Clearbrook, property tax bills can vary significantly. The tax bill at the 25th percentile is $508, while at the 75th percentile, it rises to $1364, and at the 90th percentile, it reaches $2032. These variations highlight how different factors, such as property size and location, influence the tax amount. Compared to the national median property tax rate of 0.99%, Clearbrook's tax rates and bills provide a localized perspective on how property taxes can impact homeowners differently across the country.
Average Clearbrook Tax Bill
$894
Average Clearwater County Tax Bill
$812
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Clearbrook, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56634 | $222 | $508 | $894 | $1,364 | $2,032 |
Source: Ownwell