Saint James, Minnesota Property Taxes
The median property tax rate in Saint James, MN is 1.00%, slightly higher than the national median of 0.99% but lower than the Minnesota state median of 1.11%. With the median home value in Saint James at $145,750, the typical annual property tax bill reaches $1,460, which is below the national median of $2,690. Property taxes in Saint James are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Saint James'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 Saint James 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
Saint James, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,458
Ownwell’s Saint James Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Saint James with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Saint James to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, scroll down to find more localized information. Your property’s assessed value is determined by Watonwan County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Saint James, Minnesota
Property taxes in Saint James, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint James is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Saint James set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint James 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 Saint James's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 56081 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Saint James provides valuable insights into the varying tax landscape across Watonwan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint James Tax Rate
1.00%
Average Watonwan County Tax Rate
1.02%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint James, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56081 | 0.44% | 0.74% | 1.00% | 1.30% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Saint James, Minnesota
In Saint James, 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 Watonwan 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 Saint James, 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 Saint James helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1,460 in the 56081 zip code, with tax bills ranging from $816 at the 25th percentile to $3,907 at the 90th percentile.
Average Saint James Assessed Value
$145,750
Average Watonwan County Assessed Value
$150,750
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint James, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56081 | $47,750 | $84,550 | $145,750 | $251,325 | $469,900 |
Source: Ownwell
Property Tax Bills Across Saint James, Minnesota
In Saint James, located in Watonwan County, MN, property tax bills are determined based on the assessed value of a home, which is influenced by factors such as market conditions and property characteristics. The median home price in Saint James is $145,750, which serves as a basis for calculating property taxes. The tax bill varies significantly, with the 25th percentile at $816, the 75th percentile at $2,500, and the 90th percentile reaching $3,907. Homeowners in Saint James pay a median property tax rate of approximately 1.00%, which is slightly above the national median of 0.99%. This relatively high tax rate can significantly impact homeowners, especially those with higher-valued properties. For instance, the highest median tax bill in the area is $1,460, recorded in the 56081 zip code. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances accordingly.
Average Saint James Tax Bill
$1,460
Average Watonwan County Tax Bill
$1,480
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint James, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56081 | $488 | $816 | $1,460 | $2,500 | $3,907 |
Source: Ownwell