Saint Martin, Minnesota Property Taxes
The median property tax rate in Saint Martin, MN is 1.32%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Saint Martin, the typical annual property tax bill reaches $2,540, slightly below the national median of $2,690. Property taxes in Saint Martin 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 Martin'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 Saint Martin 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 Martin, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$2,546
Ownwell’s Saint Martin Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Saint Martin with just two simple data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Saint Martin to project your property tax bill, providing a clear picture of your potential tax liabilities. This user-friendly tool is designed to help you make informed decisions about your property investments. For those interested in more detailed insights, scrolling down reveals localized trends and information at the neighborhood level. Your property’s assessed value, determined by the county, is crucial for accurate property tax calculations and may include applicable exemptions.
Property Tax Rates Across Saint Martin, Minnesota
Property taxes in Saint Martin, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Martin is 1.32%, significantly higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Saint Martin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Martin 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 Martin's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 56376 has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Saint Martin 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 Saint Martin Tax Rate
1.32%
Average Stearns County Tax Rate
1.08%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Martin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56376 | 0.97% | 1.18% | 1.32% | 1.38% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Saint Martin, Minnesota
In Saint Martin, 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 Saint Martin, 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 Martin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 56376 has the highest and lowest median tax bill, both at $2,540, compared to the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Saint Martin, Minnesota
Source: Ownwell
$46,500
$587,250
$1,128,000
Average Saint Martin Assessed Value
$192,900
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 Saint Martin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56376 | $112,100 | $145,600 | $192,900 | $251,600 | $309,220 |
Source: Ownwell
Property Tax Bills Across Saint Martin, Minnesota
In Saint Martin, MN, located in Stearns County, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For example, with a median home price of $192,900, homeowners in Saint Martin can expect their property tax bills to vary. At the lower end, the 25th percentile tax bill is around $1,656, while at the higher end, the 75th percentile tax bill reaches about $3,488. The 90th percentile tax bill can be as high as $4,180. Comparatively, the national median property tax rate is 0.99%, and Saint Martin’s rates reflect a range that can significantly affect homeowners’ finances. The highest and lowest median tax bills in the area both stand at $2,540, which indicates a relatively consistent tax environment within the city.
Average Saint Martin Tax Bill
$2,540
Average Stearns County Tax Bill
$2,818
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Martin, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56376 | $1,008 | $1,656 | $2,540 | $3,488 | $4,180 |
Source: Ownwell