Becker, Minnesota Property Taxes
The median property tax rate in Becker, MN is 1.09%, slightly higher than the national median of 0.99% but just below the Minnesota state median of 1.11%. With a median home value of $345,500 in Becker, the typical annual property tax bill comes to $3,714, significantly surpassing the national median of $2,690. Property taxes in Becker are based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural land. Gaining a clear understanding of Becker's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial yearly savings. Whether you're in the heart of Becker or another part of Sherburne County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Becker, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$3,766
Ownwell’s Becker Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Becker with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Becker 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 Becker, Minnesota
Property taxes in Becker, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Becker is 1.12%, higher than both the Minnesota state median of 1.10% and the U.S. national median of 0.99%. Local government entities within Becker set these rates annually, and they can vary significantly across different neighborhoods. Each year, Becker 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 Becker's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55308 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Becker provides valuable insights into the varying tax landscape across Sherburne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Becker Tax Rate
1.09%
Average Sherburne County Tax Rate
1.08%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Becker, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55308 | 0.86% | 0.91% | 1.09% | 1.19% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Becker, Minnesota
In Becker, 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 Sherburne 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 Becker, 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 Becker helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 55308, with a median tax bill of $3,714.
Average Becker Assessed Value
$345,500
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 Becker, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55308 | $206,190 | $289,525 | $345,500 | $427,275 | $511,410 |
Source: Ownwell
Property Tax Bills Across Becker, Minnesota
In Becker, located 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 an estimate of a property's market value, which is recalculated periodically to reflect market changes. Homeowners in Becker can expect varying tax bills based on their property's assessed value and the local tax rate. For instance, the median home price in Becker is $345,500. Depending on the specific assessed value of a property, tax bills can range significantly. At the 25th percentile, homeowners might see tax bills around $3,220, while those at the 75th percentile could face bills closer to $4,422. The top 10% of homeowners may encounter tax bills as high as $5,249. These tax bills contribute to local services such as schools, public safety, and infrastructure. Understanding these factors helps homeowners anticipate their financial responsibilities and the benefits they receive from their property taxes. Comparing these figures to the national median property tax rate of 0.99% provides valuable context for Becker's property tax landscape.
Average Becker Tax Bill
$3,714
Average Sherburne County Tax Bill
$3,686
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Becker, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55308 | $2,553 | $3,220 | $3,714 | $4,422 | $5,249 |
Source: Ownwell