Stanchfield, Minnesota Property Taxes
The median property tax rate in Stanchfield, MN is 0.80%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $305,500 in Stanchfield, the typical annual property tax bill amounts to $2,237, falling below the national median of $2,690. Property taxes in Stanchfield are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Stanchfield'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 Stanchfield or another part of Isanti County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stanchfield, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,444
Ownwell’s Stanchfield Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes in Stanchfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stanchfield 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 Stanchfield, Minnesota
Property taxes in Stanchfield, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stanchfield is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Stanchfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stanchfield 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 Stanchfield's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55080 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Stanchfield 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 Stanchfield Tax Rate
0.80%
Average Isanti County Tax Rate
0.95%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stanchfield, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55080 | 0.22% | 0.45% | 0.80% | 0.88% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Stanchfield, Minnesota
In Stanchfield, 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's Office 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 Stanchfield, 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 Stanchfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 55080 has the highest and lowest median tax bill at $2,237.
Average Stanchfield Assessed Value
$305,500
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 Stanchfield, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55080 | $119,500 | $201,725 | $305,500 | $428,400 | $548,850 |
Source: Ownwell
Property Tax Bills Across Stanchfield, Minnesota
In Stanchfield, property tax bills are calculated based on the assessed value of a home, which is determined by the Isanti County tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For context, the national median property tax rate is 0.99%, but rates can vary significantly depending on local policies and needs. Several factors influence the assessed value, including the home's market value, location, and any improvements or modifications made to the property. In Stanchfield, the median home price is $305,500, which can give homeowners a rough idea of their potential tax liability. The tax bill can vary widely among homeowners. The 25th percentile tax bill in Stanchfield is $1,171, while the 75th percentile reaches $3,346, and the 90th percentile can be as high as $4,517. These variations highlight the importance of understanding how local assessments and tax rates can impact individual tax bills, potentially affecting a homeowner's financial planning and budgeting.
Average Stanchfield Tax Bill
$2,237
Average Isanti County Tax Bill
$2,982
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Stanchfield, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55080 | $315 | $1,171 | $2,237 | $3,346 | $4,517 |
Source: Ownwell