Saint Francis, Minnesota Property Taxes
The median property tax rate in Saint Francis, MN, is 0.74%, notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Saint Francis at $400,200, the typical annual property tax bill amounts to $2,552, which is below the national median of $2,690. Property taxes in Saint Francis are determined based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Saint Francis's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Saint Francis or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saint Francis, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$2,961
Ownwell’s Saint Francis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Francis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Francis 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 Saint Francis, Minnesota
Property taxes in Saint Francis, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Francis is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Saint Francis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Francis 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 Saint Francis's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55070 zip code has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Saint Francis 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 Saint Francis Tax Rate
0.74%
Average Isanti County Tax Rate
0.95%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Francis, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55070 | 0.20% | 0.38% | 0.74% | 0.78% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Saint Francis, Minnesota
In Saint Francis, 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 Assessor 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 Saint Francis, 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 Saint Francis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 55070 has the highest and lowest median tax bill at $2,552.
Average Saint Francis Assessed Value
$400,200
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 Saint Francis, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55070 | $201,920 | $274,700 | $400,200 | $561,400 | $668,800 |
Source: Ownwell
Property Tax Bills Across Saint Francis, Minnesota
In Saint Francis, located in Isanti County, MN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate various factors, including the property's market value, location, and any improvements or modifications made to the home. Homeowners in Saint Francis can expect their property tax bills to vary significantly. The median home price in the area is $400,200. For a home in the 25th percentile, the tax bill is around $1,618, while homes in the 75th percentile see tax bills up to $3,631. Those at the 90th percentile could face tax bills as high as $4,813. Comparatively, the median property tax rate nationally is 0.99%, and Saint Francis's rates reflect the local economic conditions and public service needs. These taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in the area.
Average Saint Francis Tax Bill
$2,552
Average Isanti County Tax Bill
$2,982
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Francis, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55070 | $450 | $1,618 | $2,552 | $3,631 | $4,813 |
Source: Ownwell