Bemidji, Minnesota Property Taxes
The median property tax rate in Bemidji, MN is 0.78%, 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 Bemidji at $269,850, the typical annual property tax bill amounts to $2,034, falling below the national median of $2,690. Property taxes in Bemidji are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Bemidji'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 Bemidji 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
Bemidji, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$2,105
Ownwell’s Bemidji Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bemidji with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bemidji 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 Bemidji, Minnesota
Property taxes in Bemidji, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bemidji is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Bemidji set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bemidji 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 Bemidji's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56601 zip code has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Bemidji provides valuable insights into the varying tax landscape across Hubbard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bemidji Tax Rate
0.78%
Average Hubbard County Tax Rate
0.75%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bemidji, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56601 | 0.63% | 0.75% | 0.78% | 0.81% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Bemidji, Minnesota
In Bemidji, 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 Hubbard 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 Bemidji, 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. For instance, the median home price in Bemidji is $269,850, with annual tax bills ranging from $1,271 at the 25th percentile to $3,763 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bemidji Assessed Value
$269,850
Average Hubbard County Assessed Value
$236,000
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bemidji, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56601 | $74,550 | $176,650 | $269,850 | $376,575 | $470,500 |
Source: Ownwell
Property Tax Bills Across Bemidji, Minnesota
In Bemidji, 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 and reflects the market value of the property. Homeowners in Bemidji, located in Hubbard County, typically see a range of property tax bills. For instance, the 25th percentile tax bill is around $1,271, while the 75th percentile tax bill reaches $2,914. At the higher end, the 90th percentile tax bill can be as much as $3,763. These tax bills are crucial for homeowners as they directly impact annual housing costs. The median home price in Bemidji is $269,850, and the property tax rate in this area is slightly above the national median of 0.99%. The highest and lowest median tax bills in Bemidji are both recorded at $2,034, specifically in the 56601 zip code. Understanding these factors helps homeowners budget effectively and anticipate their yearly financial obligations.
Average Bemidji Tax Bill
$2,034
Average Hubbard County Tax Bill
$1,832
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Bemidji, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56601 | $618 | $1,271 | $2,034 | $2,914 | $3,763 |
Source: Ownwell