Sunfish Lake, Dakota County, Minnesota Property Taxes
Median Sunfish Lake, MN effective property tax rate: 0.86%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Sunfish Lake, MN home value: $1,310,800
Median annual Sunfish Lake, MN tax bill: $11,190, $8,790 higher than the national median property tax bill of $2,400.
How are property taxes in Dakota calculated?
Property taxes in Sunfish Lake, 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 Sunfish Lake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Sunfish Lake, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Sunfish Lake, Dakota County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.86%
Estimate Property Tax Bill
$11,273
$10,461
Property Tax Rates Across Sunfish Lake, Dakota County, Minnesota
Local government entities determine property tax rates, which can vary significantly within a state. Each year, counties calculate their necessary budget for providing services and divide this by the total assessed value of all taxable property in their area. This calculation determines the property tax rate. While votes and laws influence the setting of tax rates and budgets, this is essentially the annual process.
Sunfish Lake in Dakota County, Minnesota, has an effective property tax rate that can be compared to other cities in Minnesota. The median property tax rate in Minnesota is 0.86%, which is lower than the national median property tax rate of 1.02%. This means that, on average, property owners in Minnesota pay a smaller percentage of their property's assessed value in taxes compared to the national average. For those considering property tax implications, Sunfish Lake presents an attractive option with its competitive tax rate.
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 Sunfish Lake Tax Rate
0.86%
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 Dakota County Tax Rate
1.06%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Sunfish Lake, Dakota County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55118 | 0.80% | 0.83% | 0.85% | 0.93% | 0.96% |
| 55077 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Sunfish Lake, Dakota County, Minnesota
When examining property taxes in Sunfish Lake, 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 Dakota County appraisal district 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 Dakota 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 Sunfish Lake. For example, the median home price in Sunfish Lake is $1,310,800, with tax bills ranging significantly across the county. Zip code 55118 has the highest median home price at $1,359,000.
Property Tax Assessment Values Across Sunfish Lake, Dakota County, Minnesota
Source: Ownwell
$9,600
$684,300
$1,359,000
Median Sunfish Lake Market Value
$1,310,800
Median Dakota County Market Value
$344,300
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Sunfish Lake, Dakota County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55118 | $342,080 | $624,000 | $1,359,000 | $1,639,050 | $2,162,980 |
| 55077 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Sunfish Lake, Dakota County, Minnesota
Median Sunfish Lake Tax Bill
$11,190
Median Dakota County Tax Bill
$3,728
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Sunfish Lake, Dakota County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55118 | $1,948 | $5,389 | $11,598 | $15,160 | $18,258 |
| 55077 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Dakota Tax Assessor | |
| Website | gis.co.dakota.mn.us |