Rockville, Minnesota Property Taxes
The median property tax rate in Rockville, MN is 0.93%, slightly lower than the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Rockville at $221,000, the typical annual property tax bill amounts to $2,046, which is below the national median of $2,690. Property taxes in Rockville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rockville'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 Rockville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rockville, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$2,055
Ownwell’s Rockville Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Rockville, MN. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Rockville to provide an accurate estimate of your property tax bill. This allows you to gain a clear understanding of your potential tax liabilities. For those interested in more detailed insights, including neighborhood-specific trends, additional localized information is available below. Your property’s assessed value, which is determined by Stearns County, forms the basis for these calculations, taking into account any applicable exemptions.
Property Tax Rates Across Rockville, Minnesota
Property taxes in Rockville, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockville is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Rockville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockville 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 Rockville's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56369 zip code has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Rockville provides valuable insights into the varying tax landscape across Stearns County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rockville Tax Rate
0.93%
Average Stearns County Tax Rate
1.08%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56301 | 0.23% | 0.23% | 0.23% | 0.23% | 0.23% |
| 56369 | 0.83% | 0.89% | 0.93% | 0.94% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Rockville, Minnesota
In Rockville, 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 Stearns 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 Rockville, 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 Rockville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rockville is $2,048 in the 56369 zip code, while the lowest is $812 in the 56301 zip code.
Average Rockville Assessed Value
$221,000
Average Stearns County Assessed Value
$269,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rockville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56301 | $350,200 | $350,200 | $350,200 | $350,200 | $350,200 |
| 56369 | $151,660 | $177,700 | $220,900 | $276,000 | $299,400 |
Source: Ownwell
Property Tax Bills Across Rockville, Minnesota
In Rockville, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Rockville is $221,000. To calculate the tax bill, the assessed value is multiplied by the local tax rate. In Stearns County, where Rockville is located, the median property tax bill ranges from $1,610 at the 25th percentile to $2,588 at the 75th percentile, with the 90th percentile reaching up to $2,852. Several factors influence the tax bill, including the property's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Rockville may find their tax obligations vary significantly depending on these factors. For instance, the highest median tax bill in the area is $2,048 in the 56369 zip code, while the lowest is $812 in the 56301 zip code. These variations can significantly impact homeowners' annual expenses, making it crucial to understand how property taxes are calculated and what factors might affect their specific tax bill.
Average Rockville Tax Bill
$2,046
Average Stearns County Tax Bill
$2,818
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockville, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56301 | $812 | $812 | $812 | $812 | $812 |
| 56369 | $1,155 | $1,614 | $2,048 | $2,592 | $2,853 |
Source: Ownwell