Andover, Anoka County, Minnesota Property Taxes
Median Andover, MN effective property tax rate: 0.91%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%. Median Andover, MN home value: $412,700. Median annual Andover, MN tax bill: $3,707, $1,307 higher than the national median property tax bill of $2,400.
How are property taxes in Anoka calculated?
Property taxes in Andover, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Andover’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Andover, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Andover, Anoka County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.91%
Estimate Property Tax Bill
$3,756
$3,485
Property Tax Rates Across Andover, Anoka County, Minnesota
Local government entities are responsible for setting tax rates, which can differ significantly within a state. This variation occurs because each county annually estimates the budget needed to provide essential services and divides it by the total value of all taxable properties within its jurisdiction. The result of this calculation is the property tax rate.
Votes and laws play a role in determining tax rates and budgets, but this calculation is the fundamental annual process. In Andover, located in Anoka County, Minnesota, you can compare the effective property tax rate to other cities in Minnesota and the median property tax rates in both the state and the U.S.
Minnesota's median property tax rate is slightly below the national median. This means that residents in Andover and Anoka County benefit from property tax rates that are competitive compared to the national average. Understanding these tax rates is crucial for property owners as they navigate their financial responsibilities and make informed decisions about property investments.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Andover Tax Rate
0.91%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Anoka County Tax Rate
0.96%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Andover, Anoka County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55304 | 0.79% | 0.82% | 0.91% | 0.94% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Andover, Anoka County, Minnesota
When examining property taxes in Andover, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Anoka County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Anoka County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Andover. For example, the median home price in Andover is $412,700, with tax bills ranging significantly across the county. Zip code 55304 has the highest median home price at $412,700.
Property Tax Assessment Values Across Andover, Anoka County, Minnesota
Source: Ownwell
$270,950
$412,600
$554,250
Median Andover Market Value
$412,700
Median Anoka County Market Value
$327,000
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Andover, Anoka County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55304 | $298,300 | $338,000 | $412,700 | $502,800 | $600,560 |
Source: Ownwell
Property Tax Bills Across Andover, Anoka County, Minnesota
Median Andover Tax Bill
$3,707
Median Anoka County Tax Bill
$3,246
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Andover, Anoka County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55304 | $2,420 | $2,984 | $3,707 | $4,446 | $5,365 |
Source: Ownwell