Bigfork, Itasca County, Minnesota Property Taxes
Median Bigfork, MN effective property tax rate: 0.99%, slightly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Bigfork, MN home value: $162,500
Median annual Bigfork, MN tax bill: $1,484, $916 lower than the national median property tax bill of $2,400.
How are property taxes in Itasca County calculated?
Property taxes in Bigfork, 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 Bigfork’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bigfork, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bigfork, Itasca County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.99%
Estimate Property Tax Bill
$1,609
$1,493
Property Tax Rates Across Bigfork, Itasca County, Minnesota
Local government entities set tax rates, which can vary widely within a state. This variation is because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Bigfork’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.
In Bigfork, located in Itasca County, the effective property tax rate is 0.99%, which is slightly below the national median property tax rate of 1.02%. This rate places Bigfork in a favorable position compared to the national average. With the national median property tax bill at $2400, property owners in Bigfork may find their tax bills more manageable. By understanding these rates, property owners can make informed decisions about their property investments and potential tax appeals.
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 Bigfork Tax Rate
0.99%
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 Itasca County Tax Rate
0.93%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bigfork, Itasca County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56628 | 0.70% | 0.91% | 0.99% | 1.03% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Bigfork, Itasca County, Minnesota
When examining property taxes in Bigfork, 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 Itasca County Assessor's Office 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 Itasca 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 Bigfork. For example, the median home price in Bigfork is $162,500, with tax bills ranging significantly across the county. Zip code 56628 has the highest median home price at $162,500.
Property Tax Assessment Values Across Bigfork, Itasca County, Minnesota
Source: Ownwell
$63,650
$153,175
$242,700
Median Bigfork Market Value
$162,500
Median Itasca County Market Value
$169,300
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bigfork, Itasca County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56628 | $42,160 | $85,550 | $162,500 | $263,300 | $391,040 |
Source: Ownwell
Property Tax Bills Across Bigfork, Itasca County, Minnesota
Median Bigfork Tax Bill
$1,484
Median Itasca County Tax Bill
$1,502
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Bigfork, Itasca County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56628 | $341 | $742 | $1,484 | $2,517 | $3,797 |
Source: Ownwell