Chisago City, Minnesota Property Taxes
The median property tax rate in Chisago City, MN is 1.18%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Chisago City, the typical annual property tax bill reaches $4,108, exceeding the national median of $2,690. Property taxes in Chisago City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chisago City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Chisago City 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
Chisago City, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$4,345
Ownwell’s Chisago City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chisago City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chisago City 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Chisago City, Minnesota
Property taxes in Chisago City, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chisago City is 1.18%, higher than the U.S. national median of 0.99%. Local government entities within Chisago City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chisago City 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 Chisago City's effective property tax rate to other regions in Minnesota and the national median. For comparison, the 55013 zip code has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these areas compare with Chisago City provides valuable insights into the varying tax landscape across Chisago County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chisago City Tax Rate
1.18%
Average Chisago County Tax Rate
1.18%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chisago City, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55013 | 0.96% | 1.04% | 1.18% | 1.21% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Chisago City, Minnesota
In Chisago City, Minnesota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is 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 Chisago 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 Chisago City, 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. The median home price in Chisago City is $368,200, with property tax bills ranging from $2,959 at the 25th percentile to $7,269 at the 90th percentile. The zip code 55013 has both the highest and lowest median tax bill of $4,108. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Chisago City, Minnesota
Source: Ownwell
$231,300
$344,450
$457,600
Average Chisago City Assessed Value
$368,200
Average Chisago County Assessed Value
$305,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chisago City, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55013 | $130,800 | $269,050 | $368,200 | $483,500 | $618,600 |
Source: Ownwell
Property Tax Bills Across Chisago City, Minnesota
In Chisago City, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the tax bill. For homeowners, this means that the higher the assessed value of their property, the higher their property tax bill will be. Factors such as the property's market value, any applicable exemptions, and the local tax rate all play a role in determining the final tax bill. In Chisago City, the median home price is $368,200, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $2,959, while the 75th percentile reaches $5,511, and the 90th percentile goes up to $7,269. Comparing these figures to the national median property tax rate of 0.99%, it becomes evident that homeowners in Chisago City may face higher property tax bills, which can impact their overall housing costs and financial planning.
Average Chisago City Tax Bill
$4,108
Average Chisago County Tax Bill
$3,492
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Chisago City, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55013 | $1,126 | $2,959 | $4,108 | $5,511 | $7,269 |
Source: Ownwell