Sauk Rapids, Minnesota Property Taxes
The median property tax rate in Sauk Rapids, MN is 1.10%, slightly higher than the national median of 0.99% but just below the Minnesota state median of 1.11%. With a median home value of $263,500 in Sauk Rapids, the typical annual property tax bill is $2,758, which surpasses the national median of $2,690. Property taxes in Sauk Rapids are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Sauk Rapids' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sauk Rapids or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sauk Rapids, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$2,899
Ownwell’s Sauk Rapids Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sauk Rapids with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sauk Rapids to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Benton County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Sauk Rapids, Minnesota
Property taxes in Sauk Rapids, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sauk Rapids is 1.10%, significantly higher than the U.S. national median of 0.99%. Local government entities within Sauk Rapids set these rates annually, and they can vary across different neighborhoods. Each year, Sauk Rapids estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Sauk Rapids' effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56379 has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these areas compare with Sauk Rapids provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sauk Rapids Tax Rate
1.10%
Average Benton County Tax Rate
1.02%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sauk Rapids, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56379 | 0.77% | 0.91% | 1.10% | 1.15% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Sauk Rapids, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sauk Rapids, Minnesota. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Benton County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Sauk Rapids, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the median home price in Sauk Rapids is $263,500, with the 25th percentile tax bill at $1,930 and the 75th percentile tax bill at $3,580. The highest and lowest median tax bills are both $2,758 in the zip code 56379. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sauk Rapids Assessed Value
$263,500
Average Benton County Assessed Value
$250,700
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sauk Rapids, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56379 | $123,700 | $198,100 | $263,500 | $343,400 | $455,600 |
Source: Ownwell
Property Tax Bills Across Sauk Rapids, Minnesota
In Sauk Rapids, Benton County, MN, property tax bills are determined based on the assessed value of your home and the local tax rate. The assessed value is an estimate of your property's market value as determined by the county assessor. This value is then multiplied by the local tax rate to calculate your annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For instance, the median home price in Sauk Rapids is $263,500. Homeowners in the 25th percentile may see tax bills around $1,930, while those in the 75th percentile could face bills up to $3,580. At the 90th percentile, tax bills can reach approximately $4,571. These property taxes contribute to essential public services such as schools, infrastructure, and emergency services. With the national median property tax rate at 0.99%, understanding your local tax obligations can help you manage your finances more effectively and anticipate annual costs.
Average Sauk Rapids Tax Bill
$2,758
Average Benton County Tax Bill
$2,428
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Sauk Rapids, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56379 | $846 | $1,930 | $2,758 | $3,580 | $4,571 |
Source: Ownwell