Park Rapids, Clearwater County, Minnesota Property Taxes

Name: Property Tax Bills Across Park Rapids, Clearwater County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Park Rapids, MN effective property tax rate: 0.54%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%. Median Park Rapids, MN home value: $403,600. Median annual Park Rapids, MN tax bill: $2,184, $216 lower than the national median property tax bill of $2,400.

How are property taxes in Clearwater calculated?

Property taxes in Park Rapids, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Park Rapids’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Park Rapids, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Park Rapids, Clearwater County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.54%

Estimate Property Tax Bill

$2,179

$2,022

Ownwell’s Park Rapids Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Park Rapids with just two data points. By entering your property's estimated assessed value, our calculator applies Park Rapids’ median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Clearwater County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Park Rapids, Clearwater County, Minnesota

Local government entities are responsible for setting property tax rates, and these can differ significantly within a state. Each year, counties determine their budget needs to fund public services, which is then divided by the total assessed value of all taxable property in the area. This calculation results in the property tax rate. Although setting tax rates and budgets involves votes and legislation, this is the basic annual procedure.

In Park Rapids, located in Clearwater County, Minnesota, the effective property tax rate is considerably lower than both the state and national medians. The median property tax rate in Minnesota is higher than the national median of 1.02%. However, Park Rapids' rate is much more favorable, offering property owners a cost-effective tax environment compared to other regions. This lower rate can make Park Rapids an attractive location for homeowners seeking to reduce their annual property tax burden. By comparing Park Rapids' effective property tax rate with other cities in Minnesota and the median rates in the state and across the U.S., homeowners can better understand their potential savings and make informed decisions about property investments.

Property Tax Rates Across Park Rapids, Clearwater County, Minnesota

Source: Ownwell

0.50%

0.63%

0.75%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Park Rapids Tax Rate

0.54%

Median Effective Clearwater County Tax Rate

0.60%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Park Rapids, Clearwater County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56470	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Park Rapids, Clearwater County, Minnesota

When examining property taxes in Park Rapids, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Clearwater County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Clearwater County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Park Rapids. For example, the median home price in Park Rapids is $403,600, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Park Rapids, Clearwater County, Minnesota

Source: Ownwell

$100,950

$134,750

$168,550

Median Park Rapids Market Value

$403,600

Median Clearwater County Market Value

$127,300

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Park Rapids, Clearwater County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56470	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Park Rapids, Clearwater County, Minnesota

In Park Rapids, Clearwater County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the property tax bill. In this area, the property tax rate is slightly below the national median of 1.02%, making it relatively affordable for homeowners. However, the median property tax bill in Park Rapids is still substantial, with amounts ranging from $2,130 at the 25th percentile to $2,491 at the 90th percentile. These figures can significantly impact homeowners' budgets, especially when compared to the national median property tax bill of $2,400. Ownwell can assist homeowners in Park Rapids by providing expert property tax appeal and exemption services. By reviewing property assessments and identifying potential discrepancies, Ownwell helps ensure homeowners are not overpaying on their property taxes, potentially saving them hundreds of dollars annually. This service is invaluable in managing and reducing the financial burden of property taxes.

Property Tax Bills Across Park Rapids, Clearwater County, Minnesota

Source: Ownwell

$684

$789

$894

Median Park Rapids Tax Bill

$2,184

Median Clearwater County Tax Bill

$812

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Park Rapids, Clearwater County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56470	N/A	N/A	N/A	N/A	N/A

Source: Ownwell