Elk River property tax: where it goes
A Elk River house pays 1.604% of its taxable value in property tax. For a house at $369,168 of market value with the homestead exemption, that's about $4,794 a year.
Tax is levied on for a residential homestead (class 1a): estimated market value, less the homestead market value exclusion, times the class rate (1.00% on the first $500,000, 1.25% above) gives tax capacity, which is taxed at the local tax capacity rate; the ISD 728 school market value rate and the YMCA levy are separate rates on market value.
Who taxes this house
| Taxing agency | Rate | On $369,168 |
|---|---|---|
| Sherburne County | 0.3893% | $1,385 |
| City of Elk River | 0.412% | $1,466 |
| ISD 728 schools, on tax capacity (schools) | 0.245% | $872 |
| Housing & Redevelopment Authority | 0.0107% | $38 |
| Economic development authority | 0.0098% | $35 |
| Airport | 0.0024% | $9 |
| ISD 728 schools, market value rate (schools) | 0.2548% | $941 |
| YMCA levy on market value | 0.0131% | $48 |
| Higher 1.25% class rate on taxable market value above $500,000 (all tax-capacity levies) | 0.2673% | $0 |
| Total | 1.604% | $4,794 |
2026 taxes payable, Sherburne County (Elk River City, ISD 728). Exemptions applied: Homestead market value exclusion ($13,325); For class 1a residential homestead property, the 1.25% class rate applies only to market value above $500,000 ($500,000).
Ways to pay less
- Claim the Minnesota property tax refund. Minnesota homeowners may get a Property Tax Refund based on income and property taxes. How: File with the Minnesota Department of Revenue by August 15 (you may file up to one year late).
- Seniors 65+: defer part of your property tax. With the Senior Citizens Property Tax Deferral, the tax you pay is 3% of household income and the state pays the rest as a loan, repaid with interest when you sell or cancel. How: You must be 65 or older (if married, the other spouse at least 62) with household income of $96,000 or less; apply by November 1.
Dates
| When | What |
|---|---|
| Nov 1 (in 10 days) | Apply for the Senior Citizens Property Tax Deferral to defer next year's taxes |
| May 15 | First half of Sherburne County real estate taxes due |
| Aug 15 | Minnesota property tax refund due; you may still file up to one year late |
| Oct 15 | Second half of real estate taxes due |
Pay or manage it
Sources
- www.revenue.state.mn.us homestead
- www.revenue.state.mn.us property-tax-refund
- www.revenue.state.mn.us filing-property-tax-refund
- www.revenue.state.mn.us property-tax-deferral-senior-citizens
Checked October 22, 2026. Every number here comes from the public sources listed, matched by our checker.
Rates change every year; this page shows when it was last checked. Nothing here is legal, tax or insurance advice.