Saint Stephen, Minnesota Property Taxes
The median property tax rate in Saint Stephen, MN is 1.13%, which is notably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $267,100 in Saint Stephen, the typical annual property tax bill reaches $2,924, surpassing the national median of $2,690. Property taxes in Saint Stephen are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Saint Stephen'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 Stephen 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 Stephen, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$3,018
Ownwell’s Saint Stephen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Stephen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Stephen 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 Stearns County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Saint Stephen, Minnesota
Property taxes in Saint Stephen, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Stephen is 1.13%, higher than both the Minnesota state median of 1.12% and the U.S. national median of 0.99%. Local government entities within Saint Stephen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Stephen 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 Stephen's effective property tax rate to other areas in Minnesota and the national median. For comparison, the 56375 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these areas compare with Saint Stephen 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 Stephen Tax Rate
1.13%
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 Stephen, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56375 | 0.92% | 1.09% | 1.13% | 1.15% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Saint Stephen, Minnesota
In Saint Stephen, 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 Stephen, 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 Stephen 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 $2,924 in zip code 56375, which is also the lowest median tax bill recorded.
Property Tax Assessment Values Across Saint Stephen, Minnesota
Source: Ownwell
$46,500
$587,250
$1,128,000
Average Saint Stephen Assessed Value
$267,100
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 Stephen, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56375 | $170,720 | $224,225 | $267,100 | $327,825 | $481,100 |
Source: Ownwell
Property Tax Bills Across Saint Stephen, Minnesota
In Saint Stephen, property tax bills are determined based on the assessed value of a home and the local tax rate set by Stearns County. The assessed value is a percentage of the market value, which is influenced by factors such as property size, location, and condition. For instance, the median home price in Saint Stephen is $267,100. Homeowners in Saint Stephen can expect their property tax bills to vary significantly. The tax bill at the 25th percentile is around $2,382, while at the 75th percentile, it rises to $3,546. For those at the 90th percentile, the tax bill can reach up to $4,609. Comparatively, the highest and lowest median tax bills in the area are both $2,924, indicating some consistency within the zip code 56375. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Saint Stephen Tax Bill
$2,924
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 Stephen, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56375 | $1,640 | $2,382 | $2,924 | $3,546 | $4,609 |
Source: Ownwell