Scandia, Minnesota Property Taxes
The median property tax rate in Scandia, MN is 0.91%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $444,500, the typical annual property tax bill in Scandia reaches $4,026, significantly exceeding the national median of $2,690. Property taxes in Scandia 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 Scandia'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 Scandia 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
Scandia, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$4,045
Ownwell’s Scandia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scandia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scandia 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 Scandia, Minnesota
Property taxes in Scandia, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scandia is 0.91%, slightly below the U.S. national median of 0.99%. Local government entities within Scandia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scandia 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 Scandia's effective property tax rate to other areas in Washington County and the national median. For comparison, the zip code 55073 has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these areas compare with Scandia 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 Scandia Tax Rate
0.91%
Average Washington County Tax Rate
1.12%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scandia, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55073 | 0.87% | 0.89% | 0.91% | 0.93% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Scandia, Minnesota
In Scandia, 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 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. In Scandia, 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 Scandia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Scandia are both $4026, found in the 55073 zip code.
Average Scandia Assessed Value
$444,500
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 Scandia, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55073 | $311,000 | $366,100 | $444,500 | $548,400 | $666,040 |
Source: Ownwell
Property Tax Bills Across Scandia, Minnesota
In Scandia, Washington County, MN, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local assessors who evaluate the market value of homes. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $444,500, homeowners can expect a significant tax bill. Several factors influence the final tax amount, including property size, location, and any applicable exemptions or deductions. The tax bill can vary widely; the 25th percentile tax bill is $3,282, while the 75th percentile reaches $5,010, and the 90th percentile can be as high as $6,393. This variability means that homeowners in Scandia can experience different financial impacts based on their property's assessed value and specific circumstances. Compared to the national median property tax rate of 0.99%, Scandia's rates reflect the local economic conditions and public service funding needs, directly affecting homeowners' annual expenses.
Average Scandia Tax Bill
$4,026
Average Washington County Tax Bill
$4,148
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Scandia, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55073 | $2,760 | $3,282 | $4,026 | $5,010 | $6,393 |
Source: Ownwell