Winton, Minnesota Property Taxes
The median property tax rate in Winton, MN is 1.39%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Winton, the typical annual property tax bill reaches $394, which is notably lower than the national median of $2,690. Property taxes in Winton 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 Winton'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 Winton 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
Winton, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$602
Ownwell’s Winton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winton 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 Winton, Minnesota
Property taxes in Winton, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winton is 1.39%, significantly higher than the U.S. national median of 0.99%. Local government entities within Winton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winton 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. Understanding how Winton's effective property tax rate compares to other areas 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 Winton Tax Rate
1.39%
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 Winton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55796 | 0.78% | 0.87% | 1.39% | 2.00% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Winton, Minnesota
In Winton, 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 Winton, 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. Winton's median home price is $43,300, and tax bills can vary significantly, with the 25th percentile at $150 and the 75th percentile at $838. Notably, the highest median tax bill in the area is $394 in the 55796 zip code, which also has the lowest median tax bill. By understanding 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 Winton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Winton Assessed Value
$43,300
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 Winton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55796 | $2,910 | $9,375 | $43,300 | $75,075 | $91,190 |
Source: Ownwell
Property Tax Bills Across Winton, Minnesota
In Winton, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. For homeowners in Winton, the median home price stands at $43,300. The tax bill varies significantly across different percentiles. For example, homeowners at the 25th percentile pay around $150, while those at the 75th percentile face a tax bill of approximately $838. At the higher end, the 90th percentile tax bill reaches $1,384. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions. Homeowners in Winton benefit from relatively lower tax bills compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in the area both stand at $394, indicating a relatively uniform tax burden within the specific zip code of 55796. Understanding these dynamics helps homeowners anticipate their financial responsibilities and budget accordingly.
Average Winton Tax Bill
$394
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 Winton, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55796 | $34 | $150 | $394 | $838 | $1,384 |
Source: Ownwell