Harris, Minnesota Property Taxes
The median property tax rate in Harris, MN is 0.66%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $312,800 in Harris, the typical annual property tax bill amounts to $2,697, just below the national median of $2,690. Property taxes in Harris are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Harris'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 Harris or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harris, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Harris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harris 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 Harris, Minnesota
Property taxes in Harris, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harris is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Harris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harris 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 Harris's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 55032 has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Harris provides valuable insights into the varying tax landscape across Isanti County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harris Tax Rate
0.66%
Average Isanti County Tax Rate
0.95%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harris, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55032 | 0.38% | 0.49% | 0.66% | 0.86% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Harris, Minnesota
In Harris, 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 Isanti 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 Harris, 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 Harris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Isanti County is 55032, with a median bill of $2,697, which is important for homeowners to note.
Average Harris Assessed Value
$312,800
Average Isanti County Assessed Value
$289,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harris, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55032 | $247,460 | $264,125 | $312,800 | $561,325 | $727,120 |
Source: Ownwell
Property Tax Bills Across Harris, Minnesota
In Harris, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. For example, with a median home price of $312,800, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $2,182, while at the 75th percentile, it rises to approximately $3,186. The 90th percentile tax bill can reach up to $3,416. Several factors influence the assessed value, including the property's market value, location, and any improvements or changes made to the property. Compared to the national median property tax rate of 0.99%, Harris's tax rates can significantly affect homeowners. Higher property taxes may lead to increased monthly mortgage payments, impacting household budgets. Understanding these factors can help homeowners better plan for their financial responsibilities and make informed decisions about property ownership in Harris.
Average Harris Tax Bill
$2,697
Average Isanti County Tax Bill
$2,982
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Harris, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55032 | $1,475 | $2,182 | $2,697 | $3,186 | $3,416 |
Source: Ownwell