Stacy, Minnesota Property Taxes
The median property tax rate in Stacy, MN is 0.89%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $394,300 in Stacy, the typical annual property tax bill reaches $3,069, surpassing the national median of $2,690. Property taxes in Stacy are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Stacy'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 Stacy 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
Stacy, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$3,509
Ownwell’s Stacy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stacy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stacy 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 Stacy, Minnesota
Property taxes in Stacy, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stacy is 0.89%, slightly lower than the U.S. national median of 0.99%. Local government entities within Stacy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stacy 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 Stacy's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55079 has both the highest and the lowest median property tax rate of 0.89%. Understanding how these areas compare with Stacy 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 Stacy Tax Rate
0.89%
Average Isanti County Tax Rate
0.95%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stacy, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55079 | 0.32% | 0.59% | 0.89% | 0.97% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Stacy, Minnesota
In Stacy, 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 Stacy, 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. For instance, Stacy's highest median tax bill is $3,069 in the 55079 zip code, which is also the lowest median tax bill in the area. Being aware of these valuation processes in Stacy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stacy Assessed Value
$394,300
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 Stacy, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55079 | $116,090 | $255,575 | $394,300 | $546,975 | $646,280 |
Source: Ownwell
Property Tax Bills Across Stacy, Minnesota
In Stacy, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the Isanti County Assessor’s Office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the home's size, age, location, and improvements can influence its assessed value. For instance, Stacy's median home price stands at $394,300, and the property tax rate is slightly above the national median rate of 0.99%. Homeowners in Stacy can expect their property tax bills to vary significantly. For example, tax bills at the 25th percentile are around $1,613, while those at the 75th percentile reach approximately $4,582. At the 90th percentile, tax bills can be as high as $5,719. These variations can significantly impact homeowners' annual budgets, making it essential to understand how local assessments and tax rates influence their financial responsibilities. The highest and lowest median tax bills in Stacy are both $3,069, indicating a relatively consistent tax burden across different areas within the city.
Average Stacy Tax Bill
$3,069
Average Isanti County Tax Bill
$2,982
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Stacy, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55079 | $366 | $1,613 | $3,069 | $4,582 | $5,719 |
Source: Ownwell