Elk River, Sherburne County, Minnesota Property Taxes
Property Taxes in Elk River, Minnesota
Median Elk River, Minnesota effective property tax rate: 1.26%, significantly higher than the national median of 1.02%, and higher than the Minnesota state median of 1.13%.
Median Elk River, Minnesota home value: $373,200
Median annual Elk River, Minnesota tax bill: $4,620, $2,220 higher than the national median property tax bill of $2,400.
How are property taxes in Sherburne calculated?
Property taxes in Elk River, Minnesota 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 Elk River's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Elk River, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Elk River, Sherburne County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.26%
Estimate Property Tax Bill
$4,702
$4,364
How Does the Elk River Property Tax Calculator Work?
Use this Elk River property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Elk River's median effective tax rate of 1.26% — based on actual property records in Sherburne County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessor uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Elk River's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Elk River: rates range from 1.26% in 55330 to 1.26% in 55330, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Elk River.
About Elk River Property Taxes
About Property Taxes in Elk River, Sherburne, Minnesota
Elk River’s median effective property tax rate of 1.26% is higher than the Minnesota state median of 1.13% and higher than the national median of 1.02%. This rate reflects the Sherburne County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Elk River. Homeowners in the 55330 ZIP code carry a median effective rate of 1.26%, while those in the same ZIP code also pay 1.26%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Sherburne County. Understanding which part of Elk River you live in can make a meaningful difference to your annual tax bill.
Elk River homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the April 30, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Elk River, Sherburne County, Minnesota
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Elk River's effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.
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 Elk River Tax Rate
1.26%
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 Sherburne County Tax Rate
1.13%
Median Effective Minnesota Tax Rate
1.13%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Elk River, Sherburne County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55330 | 1.06% | 1.21% | 1.26% | 1.28% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Elk River, Sherburne County, Minnesota
When examining property taxes in Elk River, Minnesota, 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 Sherburne 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.
Assessment notices:
In Sherburne County, assessment notices are sent in March each year. They'll typically reach your mailbox by the middle of March.
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 Elk River.
For example, the median home price in Elk River is $373,200, with tax bills ranging significantly across the county. 55330 has the highest median home price at $373,200.
Property Tax Assessment Values Across Elk River, Sherburne County, Minnesota
Source: Ownwell
$249,600
$311,400
$373,200
Median Elk River Market Value
$373,200
Median Sherburne County Market Value
$345,600
Median Minnesota Market Value
$304,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Elk River, Sherburne County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55330 | $236,080 | $299,600 | $373,200 | $461,100 | $537,480 |
Source: Ownwell
Property Tax Bills Across Elk River, Sherburne County, Minnesota
Property tax bills in Elk River are calculated by applying the local tax rate to a home’s assessed market value, then adjusting for any exemptions or local taxing district changes. For homeowners, the bill reflects both the value of the property and the tax rates set by the city, county, schools, and other local authorities.
With a median home price of $373,200, property taxes can be a meaningful part of homeownership costs. In Elk River, the median tax bill is $4,620, which is above the national median property tax bill of $2,400. That means many homeowners pay more than the typical U.S. homeowner, especially when assessed values rise or local budgets change.
Bills vary across the city, too. The 25th percentile tax bill is $3,598, while the 75th percentile is $5,800, and the 90th percentile reaches $6,910. These differences show how property tax bills can affect homeowners differently depending on their home’s assessed value and location within Sherburne County.
Median Elk River Tax Bill
$4,620
Median Sherburne County Tax Bill
$3,760
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Elk River, Sherburne County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55330 | $2,862 | $3,598 | $4,620 | $5,800 | $6,910 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 30 |
Links | |
|---|---|
| Sherburne Tax Assessor | |
| Website | beacon.schneidercorp.com |