Pennington County Property Taxes
The median property tax rate in Pennington County is 1.13%, which is slightly higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Pennington County at $156,700, the typical annual property tax bill reaches $1,610, which is lower than the national median of $2,690. Property taxes in Pennington County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Pennington County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Thief River Falls or another part of Pennington County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pennington County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$1,771
Ownwell’s Pennington County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pennington County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Pennington County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Pennington County, Minnesota
Property taxes in Pennington County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Pennington County is 1.13%, which is higher than the U.S. national median of 0.99%. Local government entities within Pennington County set these rates annually, and they can vary significantly between different areas within the county. Each year, Pennington County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Thief River Falls has one of the higher property tax rates in Minnesota at 1.25%, while the city of Trail boasts one of the lowest at 0.50%. Analyzing how Pennington County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Pennington County Tax Rate
1.13%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pennington County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Goodridge | 0.42% | 0.45% | 0.59% | 0.94% | 1.59% |
| Oklee | 0.41% | 0.44% | 0.50% | 0.83% | 0.97% |
| Plummer | 0.41% | 0.45% | 0.68% | 0.86% | 0.91% |
| Red Lake Falls | 0.40% | 0.41% | 0.62% | 0.82% | 1.05% |
| Saint Hilaire | 0.41% | 0.74% | 0.99% | 1.20% | 1.38% |
| Thief River Falls | 0.49% | 0.98% | 1.25% | 1.50% | 1.63% |
| Trail | 0.41% | 0.45% | 0.50% | 0.79% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Pennington County, Minnesota
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Pennington. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Pennington Appraisal District. The assessed value, however, 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 Pennington are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Pennington will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Pennington, the city with the highest median tax bill is Thief River Falls at $1,789, while Trail has the lowest at $880.
Property Tax Assessment Values Across Pennington County, Minnesota
Source: Ownwell
$142,200
$217,650
$293,100
Average Pennington County Assessed Value
$156,700
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pennington County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Goodridge | $42,100 | $103,400 | $222,500 | $318,500 | $434,900 |
| Oklee | $57,780 | $115,700 | $189,900 | $292,150 | $393,020 |
| Plummer | $130,750 | $217,975 | $293,100 | $362,850 | $420,520 |
| Red Lake Falls | $50,200 | $96,100 | $196,600 | $335,100 | $480,900 |
| Saint Hilaire | $3,750 | $28,800 | $142,200 | $236,400 | $329,050 |
| Thief River Falls | $14,600 | $81,400 | $154,000 | $231,600 | $318,520 |
| Trail | $48,780 | $86,850 | $143,600 | $237,750 | $315,720 |
Source: Ownwell
Property Tax Bills Across Pennington County, Minnesota
In Pennington County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. Several factors contribute to the final tax bill, including the property's market value, local tax rates, and any applicable exemptions. For instance, the median home price in Pennington County is $156,700. Homeowners in this county can expect a wide range in their tax bills, from the 25th percentile at $676 to the 90th percentile at $3581, reflecting the variability in property values and applicable tax rates. The city of Thief River Falls has the highest median tax bill in the county at $1789, while Trail has the lowest at $880. This variation significantly affects homeowners, as those in higher-tax areas may face larger annual expenses. Compared to the national median property tax rate of 0.99%, Pennington County's rates can be both lower and higher, depending on the specific location and property value, influencing the overall cost of homeownership in the region.
Average Pennington County Tax Bill
$1,610
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Pennington County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Goodridge | $244 | $644 | $1,380 | $2,372 | $3,418 |
| Oklee | $294 | $657 | $1,202 | $1,758 | $2,216 |
| Plummer | $810 | $1,302 | $1,769 | $2,660 | $3,280 |
| Red Lake Falls | $277 | $638 | $1,248 | $2,155 | $3,190 |
| Saint Hilaire | $34 | $208 | $1,055 | $2,096 | $3,046 |
| Thief River Falls | $168 | $772 | $1,789 | $2,706 | $3,696 |
| Trail | $254 | $436 | $880 | $1,350 | $2,067 |
Source: Ownwell