Ranier, Koochiching County, Minnesota Property Taxes
Median RANIER, MN effective property tax rate: 0.93%, significantly lower than the national median of 1.02%, but lower than the MN state median of 1.11%.
Median RANIER, MN home value: $93,700
Median annual RANIER, MN tax bill: $883, $1,517 lower than the national median property tax bill of $2,400.
How are property taxes in Koochiching calculated?
Property taxes in RANIER, 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 RANIER’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in RANIER, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Ranier, Koochiching County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.93%
Estimate Property Tax Bill
$871
$809
Property Tax Rates Across Ranier, Koochiching County, Minnesota
Local government entities set tax rates, which can vary widely within a state. Why? 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 Ranier’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.
With a median property tax rate of 0.93%, Koochiching County, where Ranier is located, reflects a property tax landscape that is slightly below the national median of 1.02%. This means that property owners in Ranier may find themselves paying less in property taxes compared to the national average. Understanding these rates can help property owners make informed decisions about appealing their property taxes or seeking exemptions. By staying informed, you can ensure that you are not overpaying and are taking full advantage of any potential savings.
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 Ranier Tax Rate
0.93%
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 Koochiching County Tax Rate
0.72%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Ranier, Koochiching County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56668 | 0.68% | 0.82% | 0.93% | 1.20% | 1.23% |
| 56649 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Ranier, Koochiching County, Minnesota
When examining property taxes in Ranier, Minnesota, 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 Koochiching 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 Koochiching County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Ranier. For example, the median home price in Ranier is $93,700, with tax bills ranging significantly across the county. The zip code 56668 has the highest median home price at $93,000.
Property Tax Assessment Values Across Ranier, Koochiching County, Minnesota
Source: Ownwell
$42,200
$72,750
$103,300
Median Ranier Market Value
$93,700
Median Koochiching County Market Value
$92,700
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Ranier, Koochiching County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56668 | $34,620 | $61,900 | $93,000 | $127,000 | $257,420 |
| 56649 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Ranier, Koochiching County, Minnesota
In the city of Ranier, located in Koochiching County, MN, property tax bills are determined by assessing the value of a home and applying the local tax rate. The median home price in this area is $93,700, which plays a significant role in calculating the tax bill. Homeowners in Ranier can expect a median property tax bill of $872, which is considerably lower than the national median property tax bill of $2,400. Factors such as the property's assessed value and local tax policies influence the final tax bill. For homeowners, understanding these factors is crucial as they directly impact annual expenses.
Ownwell offers valuable assistance by helping homeowners appeal their property tax assessments and secure exemptions, potentially lowering their tax bills. By leveraging expert knowledge and resources, Ownwell identifies opportunities for savings, ensuring homeowners are not overpaying on their property taxes. This service is particularly beneficial in a region where tax rates and assessments can vary, offering peace of mind and financial relief to property owners.
Median Ranier Tax Bill
$883
Median Koochiching County Tax Bill
$689
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Ranier, Koochiching County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56668 | $278 | $541 | $872 | $1,253 | $1,996 |
| 56649 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell