Brewster, Minnesota Property Taxes
The median property tax rate in Brewster, 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 Brewster at $243,100, the typical annual property tax bill reaches $2,204, which is below the national median of $2,690. Property taxes in Brewster are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brewster'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 Brewster 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
Brewster, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,556
Ownwell’s Brewster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brewster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brewster 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 Brewster, Minnesota
Property taxes in Brewster, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brewster is 0.64%, lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Brewster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brewster 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 Brewster's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56119 zip code has both the highest and lowest median property tax rate of 0.64%. Understanding how these cities compare with Brewster provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brewster Tax Rate
0.64%
Average Jackson County Tax Rate
1.05%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brewster, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56119 | 0.27% | 0.32% | 0.64% | 0.95% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Brewster, Minnesota
In Brewster, 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 Jackson 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 Brewster, 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. The median home price in Brewster is $243,100, with the 25th percentile tax bill at $1,224 and the 75th percentile tax bill at $3,441. The highest and lowest median tax bills, both at $2,204, are found in the 56119 zip code. Being aware of these valuation processes in Brewster helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brewster Assessed Value
$243,100
Average Jackson County Assessed Value
$145,950
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brewster, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56119 | $112,380 | $162,100 | $243,100 | $881,700 | $1,344,780 |
Source: Ownwell
Property Tax Bills Across Brewster, Minnesota
In Brewster, MN, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For context, the median home price in Brewster is $243,100, which significantly influences the tax bill homeowners receive. Several factors contribute to the final tax bill, including the property's market value, local tax rates, and any applicable exemptions or reductions. Homeowners in Brewster can expect a range of tax bills; for instance, the tax bill at the 25th percentile is $1,224, while at the 75th percentile, it reaches $3,441. The highest tax bills, at the 90th percentile, can go up to $4,456. Compared to the national median property tax rate of 0.99%, Brewster's tax rates can vary, impacting homeowners differently based on their property's assessed value. The consistency in the highest and lowest median tax bills, both at $2,204, indicates a relatively stable tax environment within the 56119 zip code.
Average Brewster Tax Bill
$2,204
Average Jackson County Tax Bill
$1,463
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Brewster, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56119 | $896 | $1,224 | $2,204 | $3,441 | $4,456 |
Source: Ownwell