Chisago City, Minnesota Property Taxes
The median property tax rate in Chisago City, MN is 0.88%, which is lower than both the national median of 0.99% and Minnesota's state median of 1.11%. With the median home value in Chisago City at $522,600, the typical annual property tax bill reaches $4,612, surpassing the national median of $2,690. Property taxes in Chisago City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Chisago City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Chisago City or another part of the area, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chisago City, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$4,599
Ownwell’s Chisago City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chisago City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chisago City 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 Chisago City, Minnesota
Property taxes in Chisago City, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chisago City is 0.88%, lower than both the Minnesota state median of 1.12% and the U.S. national median of 0.99%. Local government entities within Chisago City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chisago City 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 Chisago City's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55013 zip code has the highest median property tax rate of 0.88%, while the 55013 zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Chisago City provides valuable insights into the varying tax landscape across Chisago County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chisago City Tax Rate
0.88%
Average Washington County Tax Rate
1.12%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chisago City, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55013 | 0.88% | 0.88% | 0.88% | 0.89% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Chisago City, Minnesota
In Chisago City, 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 local 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 Chisago City, 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. For example, the tax bill at the 25th percentile is $4,497, while at the 75th percentile, it is $5,017. 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 Chisago City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Chisago City, Minnesota
Source: Ownwell
$12,550
$585,000
$1,157,450
Average Chisago City Assessed Value
$522,600
Average Washington County Assessed Value
$376,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chisago City, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55013 | $505,320 | $511,800 | $522,600 | $560,750 | $583,640 |
Source: Ownwell
Property Tax Bills Across Chisago City, Minnesota
In Chisago City, property tax bills are calculated based on the assessed value of a home, which is determined by the county's assessor. The assessed value reflects the market value of the property, which in Chisago City has a median home price of $522,600. Property tax rates in this region are applied to the assessed value to calculate the annual tax bill. For homeowners in Chisago City, tax bills can vary significantly. The 25th percentile tax bill is $4,497, while the 75th percentile tax bill is $5,017, and the 90th percentile reaches $5,260. These figures illustrate the range of property tax burdens that homeowners might face. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence these assessed values and, consequently, the tax bills. Compared to the national median property tax rate of 0.99%, Chisago City’s property tax rates can be considered relatively high, impacting homeowners by requiring a more substantial financial commitment annually.
Average Chisago City Tax Bill
$4,612
Average Washington County Tax Bill
$4,148
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Chisago City, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55013 | $4,428 | $4,497 | $4,612 | $5,017 | $5,260 |
Source: Ownwell