Sabin, Minnesota Property Taxes
The median property tax rate in Sabin, MN is 0.95%, slightly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Sabin, the typical annual property tax bill reaches $2,670, which is just below the national median of $2,690. Property taxes in Sabin are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Sabin'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 Sabin or another part of Clay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sabin, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$2,702
Ownwell’s Sabin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sabin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sabin 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 Sabin, Minnesota
Property taxes in Sabin, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sabin is 0.95%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Sabin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sabin 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 Sabin's effective property tax rate to other areas in Clay County and the national median. For comparison, the zip code 56580 has the highest median property tax rate of 0.95%, while the same zip code also has the lowest median tax rate of 0.95%. Understanding how these areas compare with Sabin provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sabin Tax Rate
0.95%
Average Clay County Tax Rate
1.36%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sabin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56580 | 0.30% | 0.61% | 0.95% | 1.20% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Sabin, Minnesota
In Sabin, 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 Clay 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 Sabin, 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. Being aware of these valuation processes in Sabin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Sabin is $2,670 in the 56580 zip code, while the lowest is also $2,670 in the same zip code.
Average Sabin Assessed Value
$284,400
Average Clay County Assessed Value
$240,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sabin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56580 | $104,120 | $207,500 | $284,400 | $434,050 | $906,040 |
Source: Ownwell
Property Tax Bills Across Sabin, Minnesota
In Sabin, located in Clay County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. For instance, with a median home price of $284,400, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $1,738, while those in the 75th percentile may face a tax bill of approximately $3,793. At the higher end, in the 90th percentile, the tax bill can reach up to $5,559. Several factors influence these tax calculations, including property improvements, neighborhood developments, and changes in the local tax rate. These elements collectively determine the final tax bill, impacting homeowners' annual budgets. Compared to the national median property tax rate of 0.99%, Sabin's tax rates provide a context for understanding local property tax dynamics. Homeowners should be aware of these variables to better anticipate their financial obligations.
Average Sabin Tax Bill
$2,670
Average Clay County Tax Bill
$3,042
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Sabin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56580 | $692 | $1,738 | $2,670 | $3,793 | $5,559 |
Source: Ownwell