Foreston, Mille Lacs County, Minnesota Property Taxes

Name: Property Tax Bills Across Foreston, Mille Lacs County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Foreston, MN effective property tax rate: 0.95%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Foreston, MN home value: $285,850
Median annual Foreston, MN tax bill: $2,592, $192 higher than the national median property tax bill of $2,400.

How are property taxes in Mille Lacs calculated?

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

Last Updated March 1, 2025

Foreston, Mille Lacs County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.95%

Estimate Property Tax Bill

$2,716

$2,520

Ownwell’s Foreston Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Foreston with just two data points. By entering your property's estimated assessed value, our calculator applies Foreston’s 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 Mille Lacs County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Foreston, Mille Lacs County, Minnesota

Local government entities set tax rates, which can vary widely within a state. This annual process involves each county estimating its required budget to provide services and dividing that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the process in a nutshell.

In Foreston, located in Mille Lacs County, the effective property tax rate is 0.95%. This rate is slightly below the national median property tax rate of 1.02%, offering potential savings for property owners in the area. Compared to other cities in Minnesota, Foreston's rate aligns with the state's median, reflecting a consistent approach across the region.

For homeowners, understanding these rates is crucial for financial planning and property investment decisions. By appealing or seeking exemptions, property owners in Foreston can potentially reduce their tax burden further. This proactive approach can lead to significant savings, making it an attractive option for those looking to optimize their property-related expenses.

Property Tax Rates Across Foreston, Mille Lacs County, Minnesota

Source: Ownwell

0.91%

1.03%

1.15%

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 Foreston Tax Rate

0.95%

Median Effective Mille Lacs County Tax Rate

1.02%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Foreston, Mille Lacs County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56330	0.61%	0.83%	0.95%	1.14%	1.23%

Source: Ownwell

Property Tax Assessment Values Across Foreston, Mille Lacs County, Minnesota

When examining property taxes in Foreston, 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 Mille Lacs 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 Mille Lacs 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 Foreston. For example, the median home price in Foreston is $285,850, with tax bills ranging significantly across the county. Zip code 56330 has the highest median home price at $285,850.

Property Tax Assessment Values Across Foreston, Mille Lacs County, Minnesota

Source: Ownwell

$77,800

$194,175

$310,550

Median Foreston Market Value

$285,850

Median Mille Lacs County Market Value

$240,400

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Foreston, Mille Lacs County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56330	$135,720	$196,700	$285,850	$376,725	$488,220

Source: Ownwell

Property Tax Bills Across Foreston, Mille Lacs County, Minnesota

In Foreston, located in Mille Lacs County, MN, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value, which determines the annual property tax bill. Factors such as local government budgets and school district funding needs influence the tax rate, impacting how much homeowners pay. For instance, the median home price in Foreston is $285,850, leading to varying tax bills across the region. While the national median property tax bill is $2,400, Foreston's median tax bill is notably higher. Homeowners in the 25th percentile pay around $1,830, whereas those in the 75th percentile face bills of approximately $3,602, and in the 90th percentile, it can reach up to $4,454. Ownwell assists homeowners by identifying potential savings through property tax appeals and exemptions. By analyzing local assessment practices and comparable property values, Ownwell can help reduce the financial burden of property taxes, ensuring homeowners only pay their fair share.

Property Tax Bills Across Foreston, Mille Lacs County, Minnesota

Source: Ownwell

$854

$2,006

$3,158

Median Foreston Tax Bill

$2,592

Median Mille Lacs County Tax Bill

$2,562

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Foreston, Mille Lacs County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56330	$992	$1,830	$2,592	$3,602	$4,454

Source: Ownwell