Brainerd, Minnesota Property Taxes
The median property tax rate in Brainerd, MN is 0.65%, 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 at $203,550, the typical annual property tax bill reaches $1,248, falling well below 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 helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brainerd with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brainerd 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 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 0.65%, lower than both the Minnesota state median and 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 56401 zip code has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Brainerd provides valuable insights into the varying tax landscape across Crow Wing County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brainerd Tax Rate
0.65%
Average Crow Wing County Tax Rate
0.59%
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 | 0.36% | 0.52% | 0.65% | 0.86% | 1.10% |
| 56468 | N/A | N/A | N/A | N/A | N/A |
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 Crow Wing 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 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 zip code 56401 has both the highest and lowest median tax bill, which is $1,248.
Average Brainerd Assessed Value
$203,550
Average Crow Wing County Assessed Value
$265,300
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 | $20,900 | $81,400 | $203,600 | $358,900 | $543,000 |
| 56468 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Brainerd, Minnesota
In Brainerd, located in Crow Wing County, MN, property tax bills 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. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For homeowners in Brainerd, the property tax burden can vary significantly. The 25th percentile tax bill is around $404, while the 75th percentile tax bill reaches $2,370. The 90th percentile tax bill can be as high as $3,644. The median home price in Brainerd is $203,550, and the median tax bill stands at $1,248, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. While higher property taxes can mean better services, they also represent a significant financial consideration for homeowners when budgeting and planning for future expenses.
Average Brainerd Tax Bill
$1,248
Average Crow Wing County Tax Bill
$1,562
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 | $162 | $404 | $1,248 | $2,370 | $3,644 |
| 56468 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell