Overview of Anoka County, MN Taxes
Property taxes in Anoka County, Minnesota are slightly higher than the rest of the country. Anoka County’s average effective property tax rate is 1.17%, with a median annual property tax payment of $2,871.
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To calculate the exact amount of property tax you will owe requires your property's assessed value and the property tax rates based on your property's address. Please note that we can only estimate your property tax based on median property taxes in your area. There are typically multiple rates in a given area, because your state, county, local schools and emergency responders each receive funding partly through these taxes. In our calculator, we take your home value and multiply that by your county's effective property tax rate. This is equal to the median property tax paid as a percentage of the median home value in your county.
To calculate the exact amount of property tax you will owe requires your property's assessed value and the property tax rates based on your property's address. Please note that we can only estimate your property tax based on median property taxes in your area. There are typically multiple rates in a given area, because your state, county, local schools and emergency responders each receive funding partly through these taxes. In our calculator, we take your home value and multiply that by your county's effective property tax rate. This is equal to the median property tax paid as a percentage of the median home value in your county.
Anoka County Property Tax Rates
Property tax rates in Anoka County are 1.17%, which are lower than the rate for Minnesota state at 1.02%. Both, however, are higher than the national property tax rate of 0.99%.
Anoka County’s taxpayers pay a median annual property tax payment of $2,871. This is comparable with the median annual property payment for Minnesota state of $2,915. The tax revenue provides funding for public services and other projects at city, county and state levels.
Median home values in Anoka County is $244,500, which is $40,000 less than the home median value in Minnesota state ($285,400).
A financial advisor can help you understand how homeownership fits into your overall financial goals. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Paying Your Anoka County Property Taxes
Your tax due date in Anoka County can vary depending on what type of property you’re paying taxes on each year. But in most cases, your property tax payments will be due on May 15 and October 15 each year. These dates apply to real estate property, residential homestead and personal property built on leased government land.
Manufactured homes and agricultural homestead are exceptions to these dates with tax payments due on May 15 and November 15 of each year. In cases where the due date falls on a weekend, taxes will be due the next business day.
You’ll be subject to increasing penalties if you’re late on one or both of your tax installments. For residential homesteads, past-due tax payments face an 8% penalty on December 1 or a 10% penalty if still outstanding by January 2. Costs are even higher for non-homestead properties, with penalties increasing from 12% to 14% for any outstanding balances on January 2.
Anoka County taxpayers have a few options for taking care of any necessary tax payments they owe, including the option to pay online. Taxpayers should review the Online Property Tax Payment Fees FAQs on the Property Records & Taxation page of the Anoka County website to understand what transactions might be involved with online payments.
How Your Anoka County Property Tax Works
There are two different approaches to calculating property taxes in Anoka County. The state levies taxes on market value and on net tax capacity. For property taxes based on market value, property taxes will be based directly on your home’s market value. The resulting tax bill will combine with your net tax capacity-based taxes to form your net tax bill.
For net tax capacity, the tax calculation is first based on your home’s market value minus any possible market value exclusions. The most common exclusion that could affect your taxes is the Homestead Market Value Exclusion. The Homestead Market Exclusion is 40% of your home’s market value for homestead properties with a value of up to $76,000. For values beyond $76,000 (up to a cap of $413,800), the exclusion amount is equal to $30,400 minus 9% of the home’s value above $76,000.
This amount is then multiplied by your property’s class rate to determine final net tax capacity. Class rate is a percentage of either 1% or 1.25% depending on your home’s value. For example, residential homesteads are subject to a class rate of 1% on the first $500,000 of the home’s value and a rate of 1.25% on any remaining value over $500,000.
There are a few different situations that can affect your property tax bill each year. First, changes in spending that your city, Anoka County or your local school district makes can certainly impact the annual amount you’ll pay in a given year. You might find that your property taxes could increase if a voter referendum approves a new tax in the area as well.
Going beyond spending decisions, changes in tax legislation or the way properties are classified can also alter your tax payments. Even if tax laws remain unchanged, changes in your property’s market value or the market values in your area can affect your Anoka County property tax payments.
Each January, the Assessor will both classify and value your property. This assessment is based on market values through the 12-month time period ending September 30 of the preceding year. After this step, each jurisdiction within Anoka County will use assessments to set local tax rates. Of course, the Minnesota Department of Revenue also oversees every step in the process.
What goes into determining market value? Assessments look at the appropriate price for your home in an open market under typical market conditions and circumstances to determine market value. Local jurisdictions only begin budgeting once the assessment process is complete. Finally, budgeting leads into the process of setting local tax rates within Anoka County.
Places Receiving the Most Value for Their Property Taxes
SmartAsset’s interactive map highlights the places across the country where property tax dollars are being spent most effectively. Zoom between states and the national map to see the counties getting the biggest bang for their property tax buck.
Methodology
Our study aims to find the places in the United States where people are getting the most value for their property tax dollars. To do this, we looked at property taxes paid, school rankings and the change in property values over a five-year period.
First, we used the number of households, median home value and average property tax rate to calculate a per capita property tax collected for each county.
As a way to measure the quality of schools, we analyzed the math and reading/language arts proficiencies for every school district in the country. We created an average score for each district by looking at the scores for every school in that district, weighting it to account for the number of students in each school. Within each state, we assigned every county a score between 1 and 10 (with 10 being the best) based on the average scores of the districts in each county.
Then, we calculated the change in property tax value in each county over a five-year period. Places where property values rose by the greatest amount indicated where consumers were motivated to buy homes, and a positive return on investment for homeowners in the community.
Finally, we calculated a property tax index, based on the criteria above. Counties with the highest scores were those where property tax dollars are going the furthest.
Sources: US Census Bureau 2018 American Community Survey, Department of Education
