Sturgeon Lake, Minnesota Property Taxes
The median property tax rate in Sturgeon Lake, MN is 0.92%, slightly lower than the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $137,600 in Sturgeon Lake, the typical annual property tax bill amounts to $1,132, which is below the national median of $2,690. Property taxes in Sturgeon Lake are calculated based on the tax assessed value, often less than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Sturgeon Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sturgeon Lake or another part of Carlton County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sturgeon Lake, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$1,266
Ownwell’s Sturgeon Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sturgeon Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sturgeon Lake to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Sturgeon Lake, Minnesota
Property taxes in Sturgeon Lake, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sturgeon Lake is 0.92%, which is lower than both the Minnesota state median of 1.00% and the U.S. national median of 0.99%. Local government entities within Sturgeon Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sturgeon Lake estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Sturgeon Lake's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55783 zip code, which encompasses Sturgeon Lake, has a median property tax rate of 0.92%. Understanding how Sturgeon Lake compares with other areas provides valuable insights into the varying tax landscape across Carlton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sturgeon Lake Tax Rate
0.92%
Average Carlton County Tax Rate
1.15%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sturgeon Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55783 | 0.72% | 0.81% | 0.92% | 0.98% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Sturgeon Lake, Minnesota
In Sturgeon Lake, Minnesota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Carlton County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Sturgeon Lake are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the median home price in Sturgeon Lake is $137,600, with tax bills ranging from $543 at the 25th percentile to $2,908 at the 90th percentile. The zip code 55783 has both the highest and lowest median tax bill at $1,132. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Sturgeon Lake, Minnesota
Source: Ownwell
$110,000
$229,550
$349,100
Average Sturgeon Lake Assessed Value
$137,600
Average Carlton County Assessed Value
$213,450
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sturgeon Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55783 | $31,340 | $80,600 | $137,600 | $210,950 | $299,660 |
Source: Ownwell
Property Tax Bills Across Sturgeon Lake, Minnesota
Property tax bills in Sturgeon Lake, located in Carlton County, MN, are calculated based on the assessed value of a property, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to compute the annual tax bill. For homeowners in Sturgeon Lake, the median home price is $137,600, and the property tax rate reflects the county's financial needs and budget. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. In Sturgeon Lake, property tax bills vary significantly. For example, the 25th percentile tax bill is $543, while the 75th percentile reaches $1,934, and the 90th percentile can go up to $2,908. This variability means that homeowners could experience different financial impacts based on their property's assessed value and the specific tax rate applied. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances accordingly, especially when compared to the national median property tax rate of 0.99%.
Average Sturgeon Lake Tax Bill
$1,132
Average Carlton County Tax Bill
$2,610
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Sturgeon Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55783 | $233 | $543 | $1,132 | $1,934 | $2,908 |
Source: Ownwell