Oakdale, Minnesota Property Taxes
The median property tax rate in Oakdale, MN is 1.09%, slightly higher than the national median of 0.99% but just below the Minnesota state median of 1.11%. With the median home value in Oakdale at $253,900, the typical annual property tax bill reaches $2,727, surpassing the national median of $2,690. Property taxes in Oakdale 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 Oakdale'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 Oakdale 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
Oakdale, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$2,768
Ownwell’s Oakdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakdale 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 Oakdale, Minnesota
Property taxes in Oakdale, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakdale stands at 1.09%, which is notably higher than the U.S. national median of 0.99%. Local government entities within Oakdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakdale 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 Oakdale's effective property tax rate to other regions in Washington County and the national median. For comparison, the zip code 55128 has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these areas compare with Oakdale provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oakdale Tax Rate
1.09%
Average Washington County Tax Rate
1.12%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakdale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55128 | 1.07% | 1.08% | 1.09% | 1.12% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Oakdale, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oakdale, Minnesota. 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 Washington 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. 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. The median home price in Oakdale is $253,900, with tax bills ranging from $1,029 at the 25th percentile to $3,155 at the 90th percentile. The highest and lowest median tax bills are both $2,727, found in the 55128 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oakdale Assessed Value
$253,900
Average Washington County Assessed Value
$376,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oakdale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55128 | $6,000 | $90,525 | $253,900 | $276,925 | $285,750 |
Source: Ownwell
Property Tax Bills Across Oakdale, Minnesota
In Oakdale, property tax bills are calculated based on the assessed value of a home, which is determined by the Washington County assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence this calculation, including the property's market value, any applicable exemptions, and the local tax rate. For example, the median home price in Oakdale is $253,900. Homeowners in the 25th percentile can expect a tax bill around $1,029, while those in the 75th percentile might see a bill closer to $3,006. The highest median tax bill in the area is recorded at $2,727 in the 55128 zip code. This tax burden can significantly impact homeowners, influencing decisions about property purchases and long-term investments. Compared to the national median property tax rate of 0.99%, Oakdale's rates reflect the local economic conditions and public service funding needs, making it essential for homeowners to stay informed about their property tax obligations.
Average Oakdale Tax Bill
$2,727
Average Washington County Tax Bill
$4,148
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakdale, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55128 | $67 | $1,029 | $2,727 | $3,006 | $3,155 |
Source: Ownwell