Stanchfield, Minnesota Property Taxes
The median property tax rate in Stanchfield, MN is 1.02%, slightly higher than the national median of 0.99% but lower than the Minnesota state median of 1.11%. With a median home value in Stanchfield of $310,050, the typical annual property tax bill reaches $3,152, surpassing the national median of $2,690. Property taxes in Stanchfield are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stanchfield'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 Stanchfield or another part of Chisago County, understanding 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
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Stanchfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate 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 1.02%, slightly higher 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 areas in Chisago County and the national median. For comparison, the zip code 55080 has both the highest and lowest median property tax rate in the region at 1.02%. Understanding how these areas compare with Stanchfield 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 Stanchfield Tax Rate
1.02%
Average Chisago County Tax Rate
1.18%
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 | 0.71% | 0.98% | 1.02% | 1.19% | 1.27% |
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 Chisago 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 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 median home price in Stanchfield is $310,050, with tax bills ranging from $1,743 at the 25th percentile to $5,951 at the 90th percentile. The zip code with the highest and lowest median tax bill is 55080, both at $3,152.
Average Stanchfield Assessed Value
$310,050
Average Chisago County Assessed Value
$305,800
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 | $35,570 | $183,275 | $310,050 | $437,200 | $545,380 |
Source: Ownwell
Property Tax Bills Across Stanchfield, Minnesota
In Stanchfield, located in Chisago County, MN, property tax bills are calculated based on the assessed value of a home. The county assessor determines this value by evaluating the property's market value, which is then used to calculate the tax bill. Several factors influence this assessment, including the property's location, size, and condition, as well as recent sales of similar properties in the area. For homeowners in Stanchfield, the property tax rate is a significant factor. With a median home price of $310,050, tax bills can vary widely. At the 25th percentile, homeowners might see tax bills around $1,743, while those at the 75th percentile could face bills as high as $4,501. The 90th percentile tax bill reaches up to $5,951, reflecting the upper range of property values. This variation in tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Stanchfield Tax Bill
$3,152
Average Chisago County Tax Bill
$3,492
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 | $244 | $1,743 | $3,152 | $4,501 | $5,951 |
Source: Ownwell