Minneapolis, Anoka County, Minnesota Property Taxes
Median Minneapolis, MN effective property tax rate: 0.99%, slightly lower than the national median of 1.02%, but lower than the MN state median of 1.11%.
Median Minneapolis, MN home value: $298,000
Median annual Minneapolis, MN tax bill: $3,085, $685 higher than the national median property tax bill of $2,400.
How are property taxes in Anoka calculated?
Property taxes in Minneapolis, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Minneapolis’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Minneapolis, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Minneapolis, Anoka County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.99%
Estimate Property Tax Bill
$2,950
$2,738
Property Tax Rates Across Minneapolis, Anoka County, Minnesota
Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Minneapolis’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.
In Minneapolis, located in Anoka County, the property tax landscape presents a unique picture. The median property tax rate in Minnesota is slightly below the national median, which reflects the state's balance between fiscal responsibility and resident affordability. Minneapolis, with its own set of rates, is part of this dynamic. Anoka County showcases a range of property tax rates, from the highest in the ZIP code 55421 to the lowest in 55434. This diversity within a single county highlights the localized nature of property taxation. Understanding these variations can empower property owners to make informed decisions about appeals and potential savings.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Minneapolis Tax Rate
0.99%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Anoka County Tax Rate
0.96%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Minneapolis, Anoka County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55421 | 1.02% | 1.12% | 1.16% | 1.21% | 1.36% |
| 55432 | 0.97% | 1.04% | 1.15% | 1.25% | 1.29% |
| 55433 | 0.89% | 0.94% | 0.98% | 1.03% | 1.08% |
| 55434 | 0.64% | 0.90% | 0.93% | 0.96% | 0.99% |
| 55448 | 0.91% | 0.94% | 0.98% | 1.01% | 1.07% |
| 55449 | 0.83% | 0.93% | 0.96% | 1.00% | 1.04% |
| 55413 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Minneapolis, Anoka County, Minnesota
When examining property taxes in Minneapolis, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Anoka County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Anoka County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Minneapolis.
For example, the median home price in Minneapolis is $298,000, with tax bills ranging significantly across the county. Zip code 55449 has the highest median home price at $413,400.
Property Tax Assessment Values Across Minneapolis, Anoka County, Minnesota
Source: Ownwell
$270,950
$412,600
$554,250
Median Minneapolis Market Value
$298,000
Median Anoka County Market Value
$327,000
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Minneapolis, Anoka County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55421 | $116,700 | $230,700 | $270,950 | $305,600 | $348,900 |
| 55432 | $192,500 | $256,000 | $288,400 | $325,200 | $372,460 |
| 55433 | $207,600 | $241,700 | $286,900 | $324,000 | $364,700 |
| 55434 | $50,180 | $231,400 | $294,050 | $340,300 | $405,130 |
| 55448 | $209,900 | $260,600 | $311,700 | $365,800 | $432,520 |
| 55449 | $234,220 | $288,200 | $413,400 | $526,200 | $629,420 |
| 55413 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Minneapolis, Anoka County, Minnesota
Median Minneapolis Tax Bill
$3,085
Median Anoka County Tax Bill
$3,246
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Minneapolis, Anoka County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55421 | $1,166 | $2,657 | $3,164 | $3,631 | $4,387 |
| 55432 | $1,817 | $2,797 | $3,374 | $3,939 | $4,666 |
| 55433 | $1,891 | $2,343 | $2,840 | $3,279 | $3,786 |
| 55434 | $290 | $2,080 | $2,749 | $3,269 | $3,891 |
| 55448 | $1,962 | $2,485 | $3,098 | $3,724 | $4,390 |
| 55449 | $1,038 | $2,610 | $3,915 | $5,071 | $6,302 |
| 55413 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell