Lindstrom, Minnesota Property Taxes
The median property tax rate in Lindstrom, MN is 1.20%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Lindstrom, the typical annual property tax bill reaches $3,644, exceeding the national median of $2,690. Property taxes in Lindstrom 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 Lindstrom'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 Lindstrom 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
Lindstrom, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$3,889
Ownwell’s Lindstrom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lindstrom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lindstrom 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 Lindstrom, Minnesota
Property taxes in Lindstrom, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lindstrom is 1.20%, significantly higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Lindstrom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lindstrom 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 Lindstrom's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55045 has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these areas compare with Lindstrom provides valuable insights into the varying tax landscape across Chisago County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lindstrom Tax Rate
1.20%
Average Chisago County Tax Rate
1.18%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lindstrom, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55045 | 0.86% | 0.99% | 1.20% | 1.27% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Lindstrom, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lindstrom, 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 Chisago 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 Lindstrom, 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 Lindstrom is $324,100, with tax bills ranging from $2,428 at the 25th percentile to $6,422 at the 90th percentile. Interestingly, the zip code 55045 has both the highest and lowest median tax bill at $3,644. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lindstrom Assessed Value
$324,100
Average Chisago County Assessed Value
$305,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lindstrom, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55045 | $49,000 | $218,500 | $324,100 | $429,850 | $570,800 |
Source: Ownwell
Property Tax Bills Across Lindstrom, Minnesota
In Lindstrom, Chisago County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Lindstrom experience a range of property tax bills, with the 25th percentile at $2,428 and the 75th percentile reaching $4,812. For those in the 90th percentile, tax bills can go up to $6,422. The local tax rate in Lindstrom is influenced by various factors, including funding requirements for public services such as schools, infrastructure, and emergency services. For comparison, the national median property tax rate is 0.99%. In Lindstrom, the highest and lowest median tax bills are both recorded at $3,644 in the 55045 zip code, indicating a consistent tax rate across the area. These property taxes significantly impact homeowners, contributing to the overall cost of homeownership and influencing decisions about buying or selling property in the region.
Average Lindstrom Tax Bill
$3,644
Average Chisago County Tax Bill
$3,492
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Lindstrom, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55045 | $278 | $2,428 | $3,644 | $4,812 | $6,422 |
Source: Ownwell