Sherburne County Property Taxes
The median property tax rate in Sherburne County is 1.08%, which is slightly higher than the national median of 0.99% but lower than the Minnesota state median of 1.11%. With a median home value of $345,300, the typical annual property tax bill in Sherburne County amounts to $3,686, which is above the national median of $2,690. Property taxes in Sherburne County are calculated based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Sherburne County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Elk River or another part of Sherburne County, gaining comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sherburne County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,729
Ownwell’s Sherburne County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Sherburne County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Sherburne County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Sherburne County, Minnesota
Property taxes in Sherburne County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Sherburne County is 1.08%, which is higher than the U.S. national median of 0.99%. Local government entities within Sherburne County set these rates annually, and they can vary significantly between different areas within the county. Each year, Sherburne County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Sherburne County's effective property tax rate with other areas in Minnesota and the national median. For comparison, the city of Elk River has one of the higher property tax rates in Minnesota at 1.20%, while the city of Princeton boasts one of the lowest at 0.78%. Analyzing how Sherburne County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Sherburne County Tax Rate
1.08%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sherburne County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Becker | 0.86% | 0.91% | 1.09% | 1.19% | 1.23% |
| Big Lake | 0.85% | 0.99% | 1.10% | 1.18% | 1.21% |
| Clear Lake | 0.71% | 0.77% | 0.85% | 0.91% | 1.09% |
| Elk River | 1.04% | 1.12% | 1.20% | 1.28% | 1.34% |
| Foley | 0.57% | 0.72% | 0.81% | 1.83% | 2.33% |
| Princeton | 0.73% | 0.76% | 0.78% | 0.80% | 0.85% |
| Saint Cloud | 0.74% | 0.78% | 1.02% | 1.13% | 1.22% |
| Santiago | 0.87% | 0.87% | 0.87% | 0.87% | 0.87% |
| Sauk Rapids | 0.57% | 0.76% | 0.79% | 0.80% | 1.04% |
| Zimmerman | 0.75% | 0.81% | 1.01% | 1.14% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Sherburne County, Minnesota
In Sherburne County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Sherburne County Appraisal District. The assessed value, however, 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. Assessment notices in Sherburne County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For example, in Sherburne County, the median home price is $345,300, with tax bills ranging significantly. Elk River has the highest median tax bill at $4,458, while Santiago has the lowest at $1,390. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Sherburne County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Sherburne County, Minnesota
Source: Ownwell
$159,900
$297,675
$435,450
Average Sherburne County Assessed Value
$345,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sherburne County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Becker | $206,190 | $289,525 | $345,500 | $427,275 | $511,410 |
| Big Lake | $43,320 | $275,200 | $328,100 | $417,200 | $516,180 |
| Clear Lake | $16,200 | $67,975 | $302,450 | $409,800 | $513,280 |
| Elk River | $235,260 | $299,200 | $373,300 | $461,800 | $535,500 |
| Foley | $173,420 | $203,300 | $283,800 | $510,900 | $524,520 |
| Princeton | $157,080 | $308,600 | $365,750 | $428,800 | $498,500 |
| Saint Cloud | $146,230 | $187,800 | $247,950 | $366,825 | $467,800 |
| Santiago | $159,900 | $159,900 | $159,900 | $159,900 | $159,900 |
| Sauk Rapids | $306,140 | $374,825 | $435,450 | $489,775 | $519,580 |
| Zimmerman | $184,050 | $270,700 | $349,000 | $432,950 | $522,000 |
Source: Ownwell
Property Tax Bills Across Sherburne County, Minnesota
In Sherburne County, MN, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is generally a percentage of the market value, which is determined by the county assessor. For instance, a home with a median price of $345,300 would have its tax calculated based on this assessed value. The local tax rate in Sherburne County results in varied tax bills, with the 25th percentile at $2,904 and the 75th percentile at $4,644. Factors such as property location, size, and any applicable exemptions also play a significant role in determining the final tax bill. For example, Elk River has the highest median tax bill at $4,458, whereas Santiago has the lowest at $1,390. These variations can significantly impact homeowners, influencing their financial planning and homeownership costs. Compared to the national median property tax rate of 0.99%, Sherburne County's rates can be considered moderate, affecting both affordability and the overall cost of living in the area.
Average Sherburne County Tax Bill
$3,686
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Sherburne County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Becker | $2,553 | $3,220 | $3,714 | $4,422 | $5,249 |
| Big Lake | $2,285 | $3,238 | $3,716 | $4,470 | $5,386 |
| Clear Lake | $856 | $2,068 | $2,986 | $3,828 | $4,728 |
| Elk River | $2,842 | $3,518 | $4,458 | $5,584 | $6,510 |
| Foley | $2,230 | $2,506 | $2,814 | $4,140 | $4,912 |
| Princeton | $1,973 | $2,462 | $2,909 | $3,462 | $4,068 |
| Saint Cloud | $1,538 | $1,990 | $2,472 | $3,224 | $4,405 |
| Santiago | $1,390 | $1,390 | $1,390 | $1,390 | $1,390 |
| Sauk Rapids | $1,945 | $2,766 | $3,257 | $3,848 | $3,945 |
| Zimmerman | $1,957 | $2,718 | $3,502 | $4,348 | $5,319 |
Source: Ownwell