White Bear Township, Minnesota Property Taxes
The median property tax rate in White Bear Township, MN is 1.24%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in White Bear Township at $262,000, the typical annual property tax bill reaches $3,349, exceeding the national median of $2,690. Property taxes in White Bear Township 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 White Bear Township'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 White Bear Township 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
White Bear Township, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$3,249
Ownwell’s White Bear Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in White Bear Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in White Bear Township 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 White Bear Township, Minnesota
Property taxes in White Bear Township, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in White Bear Township is 1.24%, significantly higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within White Bear Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, White Bear Township 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 White Bear Township's effective property tax rate to other areas in Minnesota and the national median. For comparison, the 55110 zip code has the highest median property tax rate of 1.24%, while the 55110 zip code also has the lowest median tax rate of 1.24%. Understanding how these areas compare with White Bear Township provides valuable insights into the varying tax landscape across Ramsey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average White Bear Township Tax Rate
1.24%
Average Ramsey County Tax Rate
1.37%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across White Bear Township, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55110 | 1.13% | 1.18% | 1.24% | 1.27% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across White Bear Township, Minnesota
In White Bear Township, 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 Ramsey 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 White Bear Township, 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. For instance, the median home price in the area is $262,000, with tax bills ranging significantly. The 25th percentile tax bill is $3,040, while the 75th percentile tax bill is $4,365, and the 90th percentile tax bill reaches $5,198. 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 White Bear Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across White Bear Township, Minnesota
Source: Ownwell
$50,400
$482,050
$913,700
Average White Bear Township Assessed Value
$262,000
Average Ramsey County Assessed Value
$300,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across White Bear Township, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55110 | $237,690 | $249,375 | $262,000 | $318,200 | $372,410 |
Source: Ownwell
Property Tax Bills Across White Bear Township, Minnesota
Property tax bills in White Bear Township, Ramsey County, MN, are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in White Bear Township is $262,000. Homeowners in the 25th percentile can expect a tax bill around $3,040, while those in the 75th percentile might see a bill closer to $4,365. At the 90th percentile, the tax bill can reach up to $5,198. These figures are significantly higher than the national median property tax rate of 0.99%, reflecting the local property values and tax rates. The highest and lowest median tax bills in the area are both $3,349, indicating a consistent tax rate within the 55110 zip code. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and financial planning.
Average White Bear Township Tax Bill
$3,349
Average Ramsey County Tax Bill
$4,166
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across White Bear Township, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55110 | $2,679 | $3,040 | $3,349 | $4,365 | $5,198 |
Source: Ownwell