Saginaw, Minnesota Property Taxes
The median property tax rate in Saginaw, MN is 1.07%, which is higher than the national median of 0.99% but slightly lower than the Minnesota state median of 1.11%. With a median home value of $210,600 in Saginaw, the typical annual property tax bill is $2,092, which is below the national median of $2,690. Property taxes in Saginaw are determined based on the tax assessed value, often less than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Saginaw's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're residing in Saginaw or investing in the area, gaining insights into the local property tax system can provide substantial financial benefits.
Last Updated June 14, 2024
Saginaw, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Saginaw Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Saginaw with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Saginaw to provide an estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities, making financial planning easier. For those interested in more detailed insights, you can explore trends at a neighborhood level by scrolling down for localized information. Your property’s assessed value, determined by St. Louis County, is used for tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Saginaw, Minnesota
Property taxes in Saginaw, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saginaw is 1.07%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Saginaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saginaw 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 Saginaw's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55779 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Saginaw provides valuable insights into the varying tax landscape across St. Louis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saginaw Tax Rate
1.07%
Average St. Louis County Tax Rate
1.26%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saginaw, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55779 | 0.82% | 0.99% | 1.07% | 1.12% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Saginaw, Minnesota
In Saginaw, 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 St. Louis 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. In Saginaw, assessment notices 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. Being aware of these valuation processes in Saginaw helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Saginaw is $2,092 in the zip code 55779, while the lowest median tax bill is also $2,092 in the same zip code.
Average Saginaw Assessed Value
$210,600
Average St. Louis County Assessed Value
$137,900
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saginaw, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55779 | $28,780 | $106,600 | $210,600 | $303,300 | $400,940 |
Source: Ownwell
Property Tax Bills Across Saginaw, Minnesota
In Saginaw, property tax bills are determined based on the assessed value of a home, which is influenced by the market value and local assessment rates. Homeowners in Saginaw, St. Louis County, can expect their property tax bills to vary significantly. For instance, the median home price in the area is $210,600. The tax bill at the 25th percentile is $978, while at the 75th percentile, it rises to $3,266. Those in the 90th percentile face a tax bill of $4,492. Several factors influence these figures, including property size, location, and any applicable exemptions. Homeowners should be aware that these property tax rates can significantly impact their annual financial planning. Compared to the national median property tax rate of 0.99%, Saginaw's rates can be seen as relatively moderate or high depending on the specific property and its assessed value. This variability underscores the importance of understanding local property tax calculations to manage expenses effectively.
Average Saginaw Tax Bill
$2,092
Average St. Louis County Tax Bill
$1,738
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Saginaw, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55779 | $327 | $978 | $2,092 | $3,266 | $4,492 |
Source: Ownwell