Example of Big Stone County Property Tax Calculation
Big Stone County calculates property tax based on the assessed value of the property. To determine the assessed value, the county assessors consider the size of the property, the type of property, and its location. Once assessed, the property value is multiplied by the county's tax rate.
For example, if a property in Big Stone County is assessed at $150,000 and the tax rate is 1%, the property tax would be $1,500 per year. This tax amount is paid by the property owner to the county annually.
It is important to note that property taxes are used to fund various public services and infrastructure such as schools, roads, local government, and public safety services.
If you want appeal your property tax assessment - contact your local tax assessor.
Big Stone County Property Tax Rates
The following table lists the property tax rates for Big Stone County in US dollars per 100 dollars of assessed value:
| Tax Type | Rate per $100 Assessed Value |
|---|---|
| County | $0.5326 |
| City/Township | $0.6076 - $1.2257 |
| School District | $0.8808 - $1.6995 |
| Special Districts | Varies depending on district |
Note: The rates listed are for the 2020 tax year and are subject to change. It is recommended to consult with a tax professional for a personalized assessment.
Who sets property tax rates in Big Stone County ?
Property tax rates in Big Stone County are set by the Board of Commissioners. The board meets annually, typically in November, to review the county's property tax levy and make adjustments as needed. The levy is used to fund county services such as schools, law enforcement, and road maintenance. The tax rate is determined by dividing the levy by the total taxable value of property in the county. Homeowners in Big Stone County can expect to receive their property tax statements in early spring, with payment due by May 15th.
How is Big Stone County Property Tax penalty calculated ?
Big Stone County calculates property tax penalty based on the amount owed and the number of days it is past due. The penalty is 1.5% of the unpaid balance for the first month, and an additional 1.5% for each month thereafter. For example:
- Property tax due on January 1st: $2,000
- Payment made on February 15th: $1,000
- Remaining balance: $1,000
- Penalty for February: $15 ($1,000 x 1.5%)
- Payment made on April 15th: $500
- Remaining balance: $500
- Penalty for March and April: $15 + $22.50 ($500 x 1.5%) = $37.50
In this example, the total penalty for being two months past due on property taxes would be $52.50. It's important to pay property taxes on time to avoid accruing additional fees and penalties.
Homestead exemptions in Big Stone County ?
To help homeowners in Big Stone County, Minnesota, understand their eligibility for Homestead exemptions and deductions, this article presents a table with columns for exemption, eligibility, amount, and notes.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead | Must be the primary resident | Reduces the property's taxable value by up to $30,400 | Must be filed by December 15 |
| Agricultural Homestead | Must have at least 10 acres of agricultural land | Reduces the property's taxable value by up to $490,000 | Must be filed by December 15 |
| Disabled Veteran | Must have a service-connected disability rating of 70% or higher | Reduces the property's taxable value by up to $150,000 | Must be filed by December 15 |
| Blind | Must be legally blind | Reduces the property's taxable value by up to $120,000 | Must be filed by December 15 |
| Senior Citizen | Must be at least 65 years old | Reduces the property's taxable value by up to $30,400 | Must be filed by December 15 |
| Surviving Spouse | Must be the surviving spouse of a deceased homeowner who had a Homestead exemption | Reduces the property's taxable value by up to $30,400 | Must be filed by December 15 |
It's important to note that while these exemptions and deductions can significantly lower property taxes, homeowners must file for them every year by December 15 to be eligible. Additionally, the eligibility requirements listed above are specific to Big Stone County in Minnesota and may vary in other counties or states.
By taking advantage of these Homestead exemptions and deductions, eligible homeowners in Big Stone County can potentially save thousands of dollars on their property taxes each year.
When is Big Stone County Property Tax due ?
Big Stone County Property Tax is typically due on May 15th of each year. However, if the due date falls on a weekend or holiday, the deadline is moved to the next business day.
There are several payment methods available for property owners to pay their taxes:
| Payment Method | Description |
|---|---|
| In-person | Property owners can make payments in person at the Big Stone County Treasurer's Office located at 20 2nd St SE, Ortonville, MN 56278 during regular business hours. |
| Property owners can mail their payment to the Big Stone County Treasurer's Office. The address is the same as the office location. | |
| Online | Property owners can pay their taxes online through the Big Stone County website. This method requires an additional fee. |
| E-check | Property owners can pay their taxes using an electronic check online through the Big Stone County website. This method does not require an additional fee. |
It is important to note that property owners who do not pay their taxes by the due date will incur penalties and interest charges. Therefore, it is recommended that property owners pay their taxes on time to avoid any additional fees.
If you have more questions - contact your local tax collector.
We recommend contacting the Big Stone County Tax Office or a local tax professional for the most up-to-date and accurate information.