Bird Island, Minnesota Property Taxes
The median property tax rate in Bird Island, MN is 1.28%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Bird Island, the typical annual property tax bill reaches $1,432, exceeding the national median of $2,690. Property taxes in Bird Island 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 Bird Island'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 Bird Island 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
Bird Island, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$1,761
Ownwell’s Bird Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bird Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bird Island 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 Bird Island, Minnesota
Property taxes in Bird Island, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bird Island is 1.28%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bird Island set these rates annually, and they can vary across different neighborhoods. Each year, Bird Island 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 Bird Island's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55310 zip code has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Bird Island provides valuable insights into the varying tax landscape across Renville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bird Island Tax Rate
1.28%
Average Renville County Tax Rate
1.31%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bird Island, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55310 | 0.35% | 0.68% | 1.28% | 1.46% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Bird Island, Minnesota
In Bird Island, 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 Renville 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 Bird Island, 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 Bird Island is $137,600, with tax bills ranging from $874 at the 25th percentile to $3,462 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bird Island, Minnesota
Source: Ownwell
$75,700
$568,450
$1,061,200
Average Bird Island Assessed Value
$137,600
Average Renville County Assessed Value
$142,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bird Island, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55310 | $30,720 | $75,400 | $137,600 | $235,325 | $455,570 |
Source: Ownwell
Property Tax Bills Across Bird Island, Minnesota
In Bird Island, located in Renville County, MN, property tax bills are calculated based on the assessed value of a home. This value is determined by the local assessor and reflects the market value of the property. Homeowners in Bird Island can expect a median home price of $137,600. The property tax rate in this area is applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including local government budgets, school funding needs, and public services. For instance, homeowners in the 25th percentile of tax bills pay around $874 annually, while those in the 75th percentile pay approximately $2,367. At the higher end, the 90th percentile tax bill can reach up to $3,462. These property taxes fund essential community services such as schools, emergency services, and infrastructure maintenance. Understanding how these factors contribute to the overall tax bill can help homeowners better anticipate their annual expenses and plan their finances accordingly.
Average Bird Island Tax Bill
$1,432
Average Renville County Tax Bill
$1,564
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Bird Island, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55310 | $486 | $874 | $1,432 | $2,367 | $3,462 |
Source: Ownwell