Saint Michael, Minnesota Property Taxes
The median property tax rate in Saint Michael, MN is 1.06%, slightly higher than the national median of 0.99% but lower than the Minnesota state median of 1.11%. With a median home value of $396,950 in Saint Michael, the typical annual property tax bill amounts to $4,072, surpassing the national median of $2,690. Property taxes in Saint Michael are based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding the property tax system in Saint Michael, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Saint Michael or another part of Wright County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saint Michael, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$4,208
Ownwell’s Saint Michael Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Michael with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Michael 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 Saint Michael, Minnesota
Property taxes in Saint Michael, Minnesota, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Michael is 1.06%, which is higher than the U.S. national median of 0.99%. Local government entities within Saint Michael set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Michael 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 Michael's effective property tax rate to other areas in Wright County and the national median. For comparison, the zip code 55376 has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Saint Michael provides valuable insights into the varying tax landscape across Wright County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Michael Tax Rate
1.06%
Average Wright County Tax Rate
1.04%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Michael, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55376 | 0.94% | 1.04% | 1.06% | 1.09% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Saint Michael, Minnesota
In Saint Michael, 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 Wright 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 Michael, 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. Saint Michael's median home price is $396,950, with tax bills ranging from $3,274 at the 25th percentile to $6,165 at the 90th percentile. The zip code 55376 has the highest and lowest median tax bill of $4,072. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Saint Michael, Minnesota
Source: Ownwell
$71,500
$728,600
$1,385,700
Average Saint Michael Assessed Value
$396,950
Average Wright County Assessed Value
$352,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Michael, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55376 | $254,700 | $321,900 | $396,950 | $487,175 | $591,400 |
Source: Ownwell
Property Tax Bills Across Saint Michael, Minnesota
In Saint Michael, Wright County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. Factors such as the property's size, location, and condition influence this assessed value. Homeowners in Saint Michael experience a median home price of $396,950, with tax bills varying significantly across different percentiles. For instance, those in the 25th percentile face tax bills around $3,274, while those in the 75th percentile see bills near $5,078, and the 90th percentile can reach up to $6,165. The tax rate in this region is influenced by local government budgets and the need to fund public services like schools, infrastructure, and emergency services. This rate can significantly affect homeowners, making it crucial for them to understand how their tax bills are formulated. Compared to the national median property tax rate of 0.99%, Saint Michael's tax rates reflect the local economic and governmental landscape, impacting residents' financial planning and homeownership costs.
Average Saint Michael Tax Bill
$4,072
Average Wright County Tax Bill
$3,554
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Michael, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55376 | $2,450 | $3,274 | $4,072 | $5,078 | $6,165 |
Source: Ownwell