Roosevelt, Minnesota Property Taxes
The median property tax rate in Roosevelt, MN is 0.80%, 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 Roosevelt being $135,600, the typical annual property tax bill amounts to $1,024, which is significantly less than the national median of $2,690. Property taxes in Roosevelt are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Roosevelt's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Roosevelt or another part of Roseau County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Roosevelt, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,085
Ownwell’s Roosevelt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roosevelt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roosevelt 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 Roosevelt, Minnesota
Property taxes in Roosevelt, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roosevelt is 0.80%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Roosevelt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roosevelt 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 Roosevelt's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56673 zip code has the highest median property tax rate of 0.80%, while the 56673 zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Roosevelt provides valuable insights into the varying tax landscape across Roseau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roosevelt Tax Rate
0.80%
Average Roseau County Tax Rate
0.88%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roosevelt, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56673 | 0.50% | 0.72% | 0.80% | 0.88% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Roosevelt, Minnesota
In Roosevelt, 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 Roseau 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 Roosevelt, 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, properties in the zip code 56673 have a median tax bill of $1,024. 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 Roosevelt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Roosevelt Assessed Value
$135,600
Average Roseau County Assessed Value
$181,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roosevelt, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56673 | $30,860 | $61,850 | $135,600 | $202,275 | $311,800 |
Source: Ownwell
Property Tax Bills Across Roosevelt, Minnesota
In Roosevelt, located in Roseau 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 market value of the property. The local tax rate is then applied to this assessed value to calculate the tax bill. Homeowners in Roosevelt can expect a median property tax rate that aligns closely with the national median of 0.99%. For instance, with a median home price of $135,600, tax bills can vary significantly. At the 25th percentile, homeowners might pay around $506, while those at the 75th percentile could see bills as high as $1,602. The highest tax bills, reaching the 90th percentile, can be as much as $2,301. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in Roosevelt. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Roosevelt Tax Bill
$1,024
Average Roseau County Tax Bill
$1,664
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Roosevelt, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56673 | $271 | $506 | $1,024 | $1,602 | $2,301 |
Source: Ownwell