Staples, Minnesota Property Taxes
The median property tax rate in Staples, MN is 0.92%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Staples at $206,100, the typical annual property tax bill amounts to $1,864, falling below the national median of $2,690. Property taxes in Staples are calculated based on the tax assessed value, which usually comes in lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Staples' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Staples or another part of Wadena County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Staples, 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 Staples Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Staples with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Staples 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 Staples, Minnesota
Property taxes in Staples, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Staples 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 Staples set these rates annually, and they can vary significantly across different neighborhoods. Each year, Staples 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 Staples' effective property tax rate to other counties in Minnesota and the national median. For comparison, the highest median property tax rate in the region is 1.12%, while the lowest median tax rate is also 1.12%. Understanding how these cities compare with Staples provides valuable insights into the varying tax landscape across Wadena County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Staples Tax Rate
0.92%
Average Wadena County Tax Rate
0.94%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Staples, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56479 | 0.71% | 0.84% | 0.92% | 1.10% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Staples, Minnesota
In Staples, 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 Wadena 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 Staples, 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 Staples helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Staples is $206,100, with the median tax bill at $1,864. The highest and lowest median tax bills are both in zip code 56479.
Average Staples Assessed Value
$206,100
Average Wadena County Assessed Value
$154,700
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Staples, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56479 | $21,000 | $90,500 | $206,100 | $299,700 | $389,360 |
Source: Ownwell
Property Tax Bills Across Staples, Minnesota
In Staples, located in Wadena County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Staples, the median home price is $206,100. Property tax bills can vary widely, ranging from the 25th percentile at $646 to the 90th percentile at $3,890. The median tax bill in the area is $1,864, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how these taxes are calculated is crucial, as it directly impacts their annual expenses and the value they receive from local government services.
Average Staples Tax Bill
$1,864
Average Wadena County Tax Bill
$1,464
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Staples, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56479 | $148 | $646 | $1,864 | $2,882 | $3,890 |
Source: Ownwell