Sherburne County, MN Property Tax Search
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In-depth Sherburne County, MN Property Tax Information
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Property Tax Calculation
In State of Minnesota counties or cities are responsible for property tax administration and the Department of Revenue only provides assistance and oversight. The process of calculating, imposing, and collecting Minnesota property taxes for a year actually spans two full calendar years. The two-year cycle begins with the January 2 statutory assessment date and extends all the way through the next calendar year until the property taxes have been paid.
Market value is the amount for which a property would sell in a competitive and open market, presuming that both buyer and seller are knowledgeable about the sale, allow sufficient time for it, and are not affected by undue pressures (e.g. foreclosures and bankruptcy).
| Land value | $63,700 | ||||||
| Building value | + | $182,300 | |||||
| Market value | = | $246,000 | |||||
Assessed Value
Each property's share of taxes is determined according to its value, use, and the property tax levies. Assessors are responsible for estimating property values and setting classification for tax purposes. Assessment ratio is currently set to 100% throughout Sherburne County.
| Assessed value | = | $246,000 | |||||
Exemptions and Taxable Value
Taxable value represents the assessed value less any tax exemptions that apply. Sherburne County provides several exemptions like homestead exemption, disabled veteran exclusion, green acres program etc. that may lower the property's tax bill. Usually public use properties are fully exempted from taxes. The class code describes such properties.
Unfortunately, no data regarding the exact exemption value was provided to us. Therefore, the taxable value is equal to the assessed value.
Property tax in Sherburne County is calculated by multiplying the assesssed value with the corresponding tax rates and class code rates and is an estimate of what an owner not benefiting from tax exemptions or deductions would pay.
| Tax description | Assessed value | Class rate | Net taxable | Tax rate | Tax amount | ||||
|---|---|---|---|---|---|---|---|---|---|
| Tax capacity ( < 500000 ) | $246,000 | x | 1.0000% | = | $2,460 | x | 91.4100% | = | $2,249 |
| Gross tax 1 | = | $2,249 |
| Tax description | Assessed value | Market rate | Tax amount | ||
|---|---|---|---|---|---|
| Gross tax 2 | $246,000 | x | 0.1285% | = | $316 |
| Gross tax 1 | $2,249 | ||||
| Gross tax 2 | + | $316 | |||
| Property tax (estimated) | = | $2,565 |
Actual taxes might differ from the figures displayed here due to various abatement and financial assistance programs or to non ad-valorem taxes levied as special taxes. For more information please visit the web pages of Sherburne County's Assessor and Auditor/Treasurer State General Property Tax or look up this property's current valuation.
Sherburne County Stats for Property Taxes
For an easier overview of the difference in tax rates between counties, explore the charts below. You can also get additional insights on median home values, income levels and homeownership rates in your area.
Effective tax rate (%)
0.0111% of Asessed Home Value
0.0112% of Asessed Home Value
0.0114% of Asessed Home Value
Median real estate taxes paid
$2,549
$2,500
$2,471
Median home value
$230,500
$223,900
$217,500
Median income
$89,250
$71,306
$62,843
Owner occupied housing (%)
0.8364%
0.7160%
0.6399%
Renter occupied housing (%)
0.1636%
0.2840%
0.3601%
Frequently Asked Questions on Property Taxes
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