Greenwald, Minnesota Property Taxes
The median property tax rate in Greenwald, MN is 0.80%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Greenwald at $142,600, the typical annual property tax bill comes to $1,156, significantly below the national median of $2,690. Property taxes in Greenwald are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Greenwald'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 Greenwald or another part of Stearns County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenwald, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,141
Ownwell’s Greenwald Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenwald with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenwald 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 Stearns County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Greenwald, Minnesota
Property taxes in Greenwald, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenwald is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Greenwald set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenwald 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 Greenwald's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 56335 has both the highest and lowest median property tax rate of 0.80%. Understanding how these cities compare with Greenwald provides valuable insights into the varying tax landscape across Stearns County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenwald Tax Rate
0.80%
Average Stearns County Tax Rate
1.08%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenwald, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56335 | 0.67% | 0.73% | 0.80% | 0.89% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Greenwald, Minnesota
In Greenwald, 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 Stearns 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 Greenwald, 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 Greenwald helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,156, found in the 56335 zip code.
Average Greenwald Assessed Value
$142,600
Average Stearns County Assessed Value
$269,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenwald, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56335 | $69,740 | $103,950 | $142,600 | $178,300 | $228,380 |
Source: Ownwell
Property Tax Bills Across Greenwald, Minnesota
In Greenwald, Stearns County, MN, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Greenwald is $142,600. Property tax rates in this region are determined by local government budgets and the needs for public services such as schools, infrastructure, and emergency services. Homeowners in Greenwald experience a range of tax bills, with the 25th percentile paying around $789 and the 75th percentile paying up to $1,373 annually. For those in the 90th percentile, the tax bill can reach as high as $1,896. Compared to the national median property tax rate of 0.99%, Greenwald's property tax rates can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors is crucial for homeowners to anticipate their annual expenses and budget accordingly. The highest and lowest median tax bills in Greenwald are both reported at $1,156, indicating a relatively consistent property tax environment within the city.
Average Greenwald Tax Bill
$1,156
Average Stearns County Tax Bill
$2,818
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenwald, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56335 | $426 | $789 | $1,156 | $1,373 | $1,896 |
Source: Ownwell