Circle Pines, Minnesota Property Taxes
The median property tax rate in Circle Pines, MN is 1.08%, slightly higher than the national median of 0.99% but lower than the Minnesota state median of 1.11%. With a median home value of $337,500, the typical annual property tax bill in Circle Pines reaches $3,672, surpassing the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Circle Pines' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Circle Pines 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
Circle Pines, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$3,645
Ownwell’s Circle Pines Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Circle Pines with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Circle Pines 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 Circle Pines, Minnesota
Property taxes in Circle Pines, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Circle Pines is 1.08%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Circle Pines set these rates annually, and they can vary significantly across different neighborhoods. Each year, Circle Pines 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 Circle Pines' effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55014 zip code has the highest median property tax rate of 1.08%, while the 55014 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Circle Pines provides valuable insights into the varying tax landscape across Anoka County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Circle Pines Tax Rate
1.08%
Average Anoka County Tax Rate
0.96%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Circle Pines, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55014 | 0.95% | 1.02% | 1.08% | 1.12% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Circle Pines, Minnesota
In Circle Pines, 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 Anoka 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 Circle Pines, 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 Circle Pines helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Circle Pines is $337,500, with tax bills ranging from $2,950 at the 25th percentile to $5,421 at the 90th percentile. The highest and lowest median tax bills are both $3,672 in the 55014 zip code.
Property Tax Assessment Values Across Circle Pines, Minnesota
Source: Ownwell
$240,300
$397,275
$554,250
Average Circle Pines Assessed Value
$337,500
Average Anoka County Assessed Value
$327,000
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Circle Pines, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55014 | $209,010 | $277,725 | $337,500 | $410,850 | $496,100 |
Source: Ownwell
Property Tax Bills Across Circle Pines, Minnesota
In CIRCLE PINES, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For Anoka County, where CIRCLE PINES is located, the property tax rate is influenced by various factors including local government budgets, school funding needs, and public services. Homeowners in CIRCLE PINES experience a range of property tax bills. For instance, the 25th percentile tax bill is $2,950, while the 75th percentile reaches $4,495, and the 90th percentile goes up to $5,421. Comparatively, the highest median tax bill in the area is $3,672, which is above the national median property tax rate of 0.99%. These figures highlight the significant impact property taxes have on homeowners, affecting their annual financial obligations and potentially their ability to afford their homes. Understanding how these taxes are calculated can help homeowners better manage their finances and anticipate future tax liabilities.
Average Circle Pines Tax Bill
$3,672
Average Anoka County Tax Bill
$3,246
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Circle Pines, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55014 | $2,098 | $2,950 | $3,672 | $4,495 | $5,421 |
Source: Ownwell