Beardsley, Minnesota Property Taxes
The median property tax rate in Beardsley, MN, is 0.57%, considerably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Beardsley at $84,750, the typical annual property tax bill reaches $490, significantly below the national median of $2,690. Property taxes in Beardsley 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 Beardsley'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 Beardsley 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
Beardsley, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Beardsley Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Beardsley with just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Beardsley to estimate your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Beardsley, Minnesota
Property taxes in Beardsley, Minnesota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Beardsley is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Beardsley set these rates annually, and they can vary across different neighborhoods. Each year, Beardsley 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 Beardsley's effective property tax rate to other counties in Minnesota and the national median. For comparison, the highest and lowest median property tax rates in Beardsley are both 0.57%. Understanding how these rates compare with other areas provides valuable insights into the varying tax landscape across Traverse County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beardsley Tax Rate
0.57%
Average Traverse County Tax Rate
1.63%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beardsley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56211 | 0.51% | 0.56% | 0.57% | 0.69% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Beardsley, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Beardsley, Minnesota. 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 Traverse 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 Beardsley, 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. The median home price in Beardsley is $84,750, with tax bills ranging from $312 at the 25th percentile to $1,576 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 56211, with a median tax bill of $490. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Beardsley Assessed Value
$84,750
Average Traverse County Assessed Value
$55,600
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beardsley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56211 | $26,260 | $52,825 | $84,750 | $127,425 | $192,170 |
Source: Ownwell
Property Tax Bills Across Beardsley, Minnesota
In Beardsley, located in Traverse County, MN, property tax bills are determined based on the assessed value of a home combined with the local tax rate. The median home price in Beardsley is $84,750, and the property tax rate is influenced by various factors, such as local government budgets and public service needs. Homeowners in Beardsley can expect their tax bills to fall within a range, with the 25th percentile at $312 and the 75th percentile at $817. For those at the higher end, the 90th percentile tax bill is $1,576. Comparatively, the highest and lowest median tax bills in the area are both $490, reflecting a consistent property tax rate across different zip codes within the city. These tax bills impact homeowners by contributing to the funding of essential services like schools, infrastructure, and emergency services. Understanding how these bills are calculated helps homeowners better anticipate their financial obligations and plan accordingly.
Average Beardsley Tax Bill
$490
Average Traverse County Tax Bill
$718
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Beardsley, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56211 | $130 | $312 | $490 | $817 | $1,576 |
Source: Ownwell