Sauk Rapids, Minnesota Property Taxes
The median property tax rate in Sauk Rapids, MN is 0.79%, 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 Sauk Rapids at $435,450, the typical annual property tax bill amounts to $3,257, surpassing the national median of $2,690. Property taxes in Sauk Rapids are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sauk Rapids' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sauk Rapids 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
Sauk Rapids, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$3,440
Ownwell’s Sauk Rapids Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sauk Rapids with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sauk Rapids 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 Sauk Rapids, Minnesota
Property taxes in Sauk Rapids, Minnesota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Sauk Rapids is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Sauk Rapids set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sauk Rapids 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 Sauk Rapids' effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56379 has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Sauk Rapids 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 Sauk Rapids Tax Rate
0.79%
Average Sherburne County Tax Rate
1.08%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sauk Rapids, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56379 | 0.57% | 0.76% | 0.79% | 0.80% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Sauk Rapids, Minnesota
In Sauk Rapids, 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 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 Sauk Rapids, 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. The median home price in Sauk Rapids stands at $435,450, with tax bills ranging from $2,766 at the 25th percentile to $3,848 at the 75th percentile, and up to $3,945 at the 90th percentile. The highest and lowest median tax bills are both $3,257 in the 56379 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Sauk Rapids Assessed Value
$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 Sauk Rapids, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56379 | $306,140 | $374,825 | $435,450 | $489,775 | $519,580 |
Source: Ownwell
Property Tax Bills Across Sauk Rapids, Minnesota
In Sauk Rapids, Sherburne County, MN, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the market value, which is determined by local assessors based on recent sales of similar properties and other relevant factors. This assessed value is then subject to the local tax rate to calculate the annual property tax bill. Several factors influence the final tax bill, including property size, location, and improvements made to the property. For instance, the median home price in Sauk Rapids is $435,450. Homeowners in the 25th percentile of tax bills pay around $2,766 annually, while those in the 75th percentile see bills closer to $3,848. The highest median tax bill in the area is $3,257, making it essential for homeowners to understand how these elements affect their financial obligations. Compared to the national median property tax rate of 0.99%, Sauk Rapids' tax rates can significantly impact homeowners' yearly expenses, emphasizing the importance of accurate property assessments and awareness of local tax regulations.
Average Sauk Rapids Tax Bill
$3,257
Average Sherburne County Tax Bill
$3,686
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Sauk Rapids, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56379 | $1,945 | $2,766 | $3,257 | $3,848 | $3,945 |
Source: Ownwell