Itasca County, Minnesota - Property Tax Rates (2024)

FAQs

Itasca County, Minnesota - Property Tax Rates? ›

Hennepin County's average effective tax rate is 1.32%, the highest in Minnesota.

Hennepin County's average effective tax rate is 1.32%, the highest in Minnesota.

The final commercial-industrial state general levy property tax rate for taxes payable 2024 is 29.294%. The final seasonal residential recreational state general levy property tax rate for taxes payable 2024 is 10.640%.

Looking for your property tax statement? You can get a copy of your property tax statement from the county website or county treasurer where the property is located. For websites and contact information, visit County Websites on Minnesota.gov.

The top three spots go exclusively to high-priced counties in New York: Westchester, Rockland and New York (Manhattan) counties, where median property taxes reached more than $14,000 in 2023.

Minnesota residents pay $2,110 in property taxes on a $180,000 home. Wisconsin residents pay $3,499 on the same-priced home. The average household in Dakota County pays $1414 less in property taxes than a family in Wisconsin, and $461 less in property taxes than the Twin Cities metro average.

Under Minnesota law, all real property (except for tribal lands) is presumed taxable. Since taxation is the rule and exemption is the exception, it is up to the property owner to prove that their property qualifies for exemption under Minnesota Statute § 272.02.

For 2024, preliminary property taxes statewide will increase by a maximum of $882.1 million, a 7.3% increase.

Where do property taxes go in Minnesota? ›

State property taxes fund school districts, towns, cities, counties, and other special taxing districts. Some properties such as seasonal-cabin and commercial-industrial are also subject to a state property tax. This state general tax goes into the state general fund.

Classifications such as homestead, commercial, and agricultural describe the primary use of a property, and affect the amount of property tax paid. The assessor determines the classification or use of each parcel. Each classification is taxed and receives credits at a different percentage of market value.

Claimants can check the status of their refund by calling DOR at 651-296-4444 or online (https://www.revenue.state.mn.us/wheres-my-refund). Minnesota House Research Department provides nonpartisan legislative, legal, and information services to the Minnesota House of Representatives.

For residential homesteads the rate is 1% on the first $500,000 in market value and 1.25% on everything above $500,000. So if your home is worth $400,000, the net tax capacity is $4,000.

Of 50 states, Minnesota is 22nd in property taxes and 28th in sales taxes. The levy on income, fourth highest in the country, pushes up the overall impact. New York State is the worst at over 12%.

The city of St. Paul's new 1 percent sales tax increase began Monday, raising the total county, state and local sales tax to nearly 10 percent — the highest in Minnesota, according to the Department of Revenue.

Those counties include: Summit County, OH (3.17 percent); Saint Lawrence County, NY (2.59 percent); De Kalb County, IL (2.51 percent); Fairfield County, OH (2.45 percent); Monroe County, NY (2.34 percent); Camden County, NJ (2.19 percent); Kane County, IL (2.15 percent); Lake County, IL (2.1 percent); Kankakee County, ...

Minnesota has a graduated state individual income tax, with rates ranging from 5.35 percent to 9.85 percent. Minnesota has a 9.8 percent corporate income tax rate. Minnesota also has a 6.875 percent state sales tax rate and an average combined state and local sales tax rate of 8.04 percent.

Key findings. Real estate taxes are over $10,000 annually in San Francisco, Santa Clara, and Sunnyvale, CA. This is the highest average annual payment of real estate taxes studywide. Meanwhile, average home values range from $1.36 million to $1.58 million in these cities.