Maple Grove, Minnesota Property Taxes
The median property tax rate in Maple Grove, MN is 1.14%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Maple Grove at $385,400, the typical annual property tax bill reaches $4,510, exceeding the national median of $2,690. Property taxes in Maple Grove 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 Maple Grove'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 Maple Grove or another part of Hennepin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maple Grove, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$4,394
Ownwell’s Maple Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maple Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maple Grove 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 Hennepin County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Maple Grove, Minnesota
Property taxes in Maple Grove, Minnesota, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Maple Grove is 1.14%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Maple Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maple Grove 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 Maple Grove's effective property tax rate to other areas in Hennepin County and the national median. For comparison, the 55311 zip code has the highest median property tax rate of 1.15%, while the 55369 zip code has the lowest median tax rate of 1.14%. Understanding how these areas compare with Maple Grove provides valuable insights into the varying tax landscape across Hennepin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maple Grove Tax Rate
1.14%
Average Hennepin County Tax Rate
1.26%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maple Grove, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55311 | 1.10% | 1.13% | 1.15% | 1.20% | 1.23% |
| 55369 | 1.09% | 1.12% | 1.14% | 1.19% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Maple Grove, Minnesota
In Maple Grove, 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 Hennepin County Assessor's Office 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 Maple Grove, 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 Maple Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Residents in ZIP code 55311 face the highest median tax bill at $5,344, while those in ZIP code 55369 encounter the lowest at $4,173.
Property Tax Assessment Values Across Maple Grove, Minnesota
Source: Ownwell
$83,000
$1,064,000
$2,045,000
Average Maple Grove Assessed Value
$385,400
Average Hennepin County Assessed Value
$350,000
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maple Grove, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55311 | $245,700 | $310,075 | $455,500 | $591,400 | $713,770 |
| 55369 | $241,670 | $299,900 | $361,600 | $419,600 | $507,060 |
Source: Ownwell
Property Tax Bills Across Maple Grove, Minnesota
In Maple Grove, located in Hennepin County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Maple Grove is $385,400. To determine the tax bill, the assessed value is multiplied by the tax rate set by local authorities. Various factors such as property size, location, and improvements influence the assessed value. Homeowners in Maple Grove experience a range of property tax bills. The 25th percentile tax bill is $3,490, while the 75th percentile reaches $6,086. At the 90th percentile, homeowners can expect a tax bill around $7,659. Within Maple Grove, the highest median tax bill is in the 55311 zip code at $5,344, whereas the lowest median tax bill is in the 55369 zip code at $4,173. Understanding how these factors impact property tax bills helps homeowners anticipate their financial obligations and plan accordingly. Comparing these numbers to the national median property tax rate of 0.99% can also provide valuable context.
Average Maple Grove Tax Bill
$4,510
Average Hennepin County Tax Bill
$4,453
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Maple Grove, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55311 | $2,824 | $3,700 | $5,344 | $7,054 | $8,587 |
| 55369 | $2,666 | $3,367 | $4,173 | $4,905 | $5,997 |
Source: Ownwell