Breckenridge, Wilkin County, Minnesota Property Taxes
Median Breckenridge, MN effective property tax rate: 0.97%, slightly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Breckenridge, MN home value: $162,750
Median annual Breckenridge, MN tax bill: $1,477, $923 lower than the national median property tax bill of $2,400.
How are property taxes in Wilkin County calculated?
Property taxes in Breckenridge, 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 Breckenridge’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Breckenridge, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Breckenridge, Wilkin County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.03%
Estimate Property Tax Bill
$1,747
$1,621
Property Tax Rates Across Breckenridge, Wilkin County, Minnesota
Local government entities play a crucial role in setting property tax rates, which can vary significantly across Minnesota. Each county, including Wilkin County, estimates its budgetary needs for essential services and divides this by the total assessed value of all taxable properties within its boundaries. This results in the county's property tax rate. Although the process involves votes and legislation, this is the core mechanism for determining rates annually.
In Breckenridge, located in Wilkin County, the effective property tax rate is 0.97%, which aligns with the highest and lowest rates in the state. This rate is slightly below the national median property tax rate of 1.02%, offering some relief to property owners compared to the national landscape. While Minnesota's median property tax rate is 0.97%, Breckenridge's rate reflects the local government's budgetary requirements and property values. Property owners in Breckenridge benefit from a competitive tax rate, making it an attractive location for homeowners seeking affordability.
Our median effective property tax rate (tax bill Ă· 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 Breckenridge Tax Rate
1.03%
Our median effective property tax rate (tax bill Ă· 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 Wilkin County Tax Rate
0.93%
Median Effective Minnesota Tax Rate
1.13%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Breckenridge, Wilkin County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56520 | 0.63% | 0.88% | 1.03% | 1.12% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Breckenridge, Wilkin County, Minnesota
When examining property taxes in Breckenridge, 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 Wilkin 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 Wilkin 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 Breckenridge. For example, the median home price in Breckenridge is $162,750, with tax bills ranging significantly across the county. Zip code 56520 has the highest median home price at $162,750.
Property Tax Assessment Values Across Breckenridge, Wilkin County, Minnesota
Source: Ownwell
$79,100
$209,225
$339,350
Median Breckenridge Market Value
$169,600
Median Wilkin County Market Value
$173,900
Median Minnesota Market Value
$304,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Breckenridge, Wilkin County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56520 | $63,960 | $107,900 | $169,600 | $262,200 | $366,500 |
Source: Ownwell
Property Tax Bills Across Breckenridge, Wilkin County, Minnesota
Median Breckenridge Tax Bill
$1,604
Median Wilkin County Tax Bill
$1,536
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Breckenridge, Wilkin County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56520 | $510 | $992 | $1,604 | $2,500 | $3,657 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 30 |
Links | |
|---|---|
| Wilkin Tax Assessor | |
| Website | wilkinco.maps.arcgis.com |