Sunburg, Minnesota Property Taxes
The median property tax rate in Sunburg, MN is 0.63%, 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 Sunburg at $202,000, the typical annual property tax bill is $1,280, significantly below the national median of $2,690. Property taxes in Sunburg are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Sunburg's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you reside in the heart of Sunburg or another area within the city, gaining insight into the local property tax system will provide financial benefits.
Last Updated June 14, 2024
Sunburg, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,273
Ownwell’s Sunburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sunburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sunburg 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 Sunburg, Minnesota
Property taxes in Sunburg, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sunburg is 0.63%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Sunburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sunburg 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 Sunburg's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56289 has both the highest and lowest median property tax rate of 0.63%. Understanding how these areas compare with Sunburg provides valuable insights into the varying tax landscape across Pope County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sunburg Tax Rate
0.63%
Average Pope County Tax Rate
0.66%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sunburg, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56289 | 0.63% | 0.63% | 0.63% | 0.70% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Sunburg, Minnesota
In Sunburg, 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 Pope 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 Sunburg, 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 Sunburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 56289, with a median bill of $1,280, while the lowest median tax bill is also in the same zip code, highlighting the uniformity in tax assessments within the city.
Average Sunburg Assessed Value
$202,000
Average Pope County Assessed Value
$275,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sunburg, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56289 | $154,160 | $172,100 | $202,000 | $235,350 | $255,360 |
Source: Ownwell
Property Tax Bills Across Sunburg, Minnesota
In Sunburg, located in Pope County, MN, 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 assessor, who evaluates the property's market value. For a home with a median price of $202,000, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $1,181, while those in the 75th percentile could see bills up to $1,480. The 90th percentile tax bill reaches approximately $1,600. Several factors influence these figures, including property size, location, and any applicable exemptions. These taxes fund essential community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Sunburg's rates reflect the local economic landscape. Homeowners should stay informed about their property's assessed value and any potential changes in tax rates to better manage their financial planning.
Average Sunburg Tax Bill
$1,280
Average Pope County Tax Bill
$1,948
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Sunburg, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56289 | $1,122 | $1,181 | $1,280 | $1,480 | $1,600 |
Source: Ownwell