Saint Charles, Minnesota Property Taxes
The median property tax rate in Saint Charles, MN is 0.87%, lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Saint Charles at $318,350, the typical annual property tax bill is $2,748, slightly below the national median of $2,690. Property taxes in Saint Charles 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 Saint Charles' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Saint Charles 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
Saint Charles, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Saint Charles Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Charles with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Charles 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 Charles, Minnesota
Property taxes in Saint Charles, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Charles is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Saint Charles set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Charles 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 Charles' effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55972 has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Saint Charles provides valuable insights into the varying tax landscape across Olmsted County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Charles Tax Rate
0.87%
Average Olmsted County Tax Rate
1.24%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Charles, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55972 | 0.84% | 0.86% | 0.87% | 0.88% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Saint Charles, Minnesota
In Saint Charles, 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 Olmsted 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 Charles, 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 Saint Charles helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Saint Charles is $318,350, with tax bills ranging from $1,781 at the 25th percentile to $3,875 at the 90th percentile. The highest and lowest median tax bill in the area is $2,748, both found in zip code 55972.
Property Tax Assessment Values Across Saint Charles, Minnesota
Source: Ownwell
$207,000
$346,050
$485,100
Average Saint Charles Assessed Value
$318,350
Average Olmsted County Assessed Value
$264,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Charles, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55972 | $16,390 | $217,875 | $318,350 | $357,900 | $407,310 |
Source: Ownwell
Property Tax Bills Across Saint Charles, Minnesota
In Saint Charles, Olmsted County, MN, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners, several factors influence this calculation, including the property's market value, any applicable exemptions, and the specific tax rate set by local authorities. For instance, the median home price in Saint Charles is $318,350. Homeowners can expect varied tax bills depending on their property's assessed value and exemptions. The tax bill at the 25th percentile is around $1,781, while at the 75th percentile, it can go up to $3,116. At the 90th percentile, it reaches approximately $3,875. These figures illustrate how property taxes can significantly impact homeowners' annual expenses. Comparing this to the national median property tax rate of 0.99%, Saint Charles homeowners may find their tax obligations slightly higher, reflecting the local economic conditions and funding needs.
Average Saint Charles Tax Bill
$2,748
Average Olmsted County Tax Bill
$3,296
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Charles, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55972 | $165 | $1,781 | $2,748 | $3,116 | $3,875 |
Source: Ownwell