Clearwater, Minnesota Property Taxes
The median property tax rate in Clearwater, MN is 0.83%, which is notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Clearwater, the typical annual property tax bill reaches $2,944, slightly exceeding the national median of $2,690. Property taxes in Clearwater 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 Clearwater'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 Clearwater 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
Clearwater, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$3,132
Ownwell’s Clearwater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clearwater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clearwater 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 Clearwater, Minnesota
Property taxes in Clearwater, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clearwater is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Clearwater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clearwater 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 Clearwater's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55320 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Clearwater provides valuable insights into the varying tax landscape across Stearns County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clearwater Tax Rate
0.83%
Average Stearns County Tax Rate
1.08%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clearwater, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55320 | 0.53% | 0.78% | 0.83% | 0.87% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Clearwater, Minnesota
In Clearwater, 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 Stearns 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 Clearwater, 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 Clearwater helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,944 in zip code 55320, which is also the lowest median tax bill, reflecting a consistent tax environment.
Average Clearwater Assessed Value
$377,350
Average Stearns County Assessed Value
$269,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clearwater, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55320 | $174,460 | $289,225 | $377,350 | $513,475 | $713,550 |
Source: Ownwell
Property Tax Bills Across Clearwater, Minnesota
In Clearwater, Stearns County, MN, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of your property. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. Several factors influence your property tax bill, including changes in the market value of your home, local government budgets, and voter-approved levies. For example, the median home price in Clearwater is $377,350, which can result in varying tax bills. Homeowners in the 25th percentile pay around $2,164, while those in the 75th percentile face bills of approximately $3,986. At the 90th percentile, tax bills can reach up to $5,594. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Understanding how your property tax bill is calculated can help you better manage your finances and anticipate annual costs.
Average Clearwater Tax Bill
$2,944
Average Stearns County Tax Bill
$2,818
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Clearwater, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55320 | $1,136 | $2,164 | $2,944 | $3,986 | $5,594 |
Source: Ownwell