Fisher, Minnesota Property Taxes
The median property tax rate in Fisher, MN is 0.98%, slightly below the national median of 0.99% but lower than the Minnesota state median of 1.11%. With a median home value of $190,200 in Fisher, the typical annual property tax bill amounts to $2,258, which is lower than the national median of $2,690. Property taxes in Fisher are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Fisher'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 Fisher or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fisher, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$1,864
Ownwell’s Fisher Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fisher with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fisher 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 Fisher, Minnesota
Property taxes in Fisher, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fisher is 0.98%, slightly below the U.S. national median of 0.99%. Local government entities within Fisher set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fisher 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 Fisher's effective property tax rate to other areas in Polk County and the national median. For comparison, the zip code 56723 has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Fisher provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fisher Tax Rate
0.98%
Average Polk County Tax Rate
1.34%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fisher, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56723 | 0.58% | 0.81% | 0.98% | 1.67% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Fisher, Minnesota
In Fisher, 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 Polk 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 Fisher, 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 Fisher helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 56723, both at $2,258.
Average Fisher Assessed Value
$190,200
Average Polk County Assessed Value
$183,700
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fisher, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56723 | $83,780 | $132,400 | $190,200 | $290,900 | $414,040 |
Source: Ownwell
Property Tax Bills Across Fisher, Minnesota
Property tax bills in Fisher, Polk County, MN, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Fisher, the median home price is $190,200, and the property tax rate is reflective of the state and county averages. Several factors influence the tax bill, including property size, location, and any improvements or renovations. Homeowners in Fisher can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,588, while at the 75th percentile, it rises to $2,872. At the 90th percentile, it can reach up to $3,743. These variations highlight how different factors can impact the final amount due. Understanding these elements helps homeowners better anticipate their financial obligations and plan accordingly.
Average Fisher Tax Bill
$2,258
Average Polk County Tax Bill
$2,200
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Fisher, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56723 | $1,162 | $1,588 | $2,258 | $2,872 | $3,743 |
Source: Ownwell