Marine On Saint Croix, Minnesota Property Taxes
The median property tax rate in Marine on Saint Croix, MN is 0.93%, slightly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Marine on Saint Croix at $528,150, the typical annual property tax bill reaches $4,794, which is significantly higher than the national median of $2,690. Property taxes in Marine on Saint Croix are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Marine on Saint Croix'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 Marine on Saint Croix 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
Marine On Saint Croix, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$4,912
Ownwell’s Marine on Saint Croix Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marine on Saint Croix with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marine on Saint Croix 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 Washington County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Marine On Saint Croix, Minnesota
Property taxes in Marine on Saint Croix, Minnesota, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Marine on Saint Croix is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Marine on Saint Croix set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marine on Saint Croix 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 Marine on Saint Croix's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55047 has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Marine on Saint Croix provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marine On Saint Croix Tax Rate
0.93%
Average Washington County Tax Rate
1.12%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marine On Saint Croix, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55047 | 0.74% | 0.88% | 0.93% | 1.04% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Marine On Saint Croix, Minnesota
In Marine on Saint Croix, 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 Washington 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. 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 Marine on Saint Croix helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 55047 has a median tax bill of $4,794, which is both the highest and lowest in the area.
Property Tax Assessment Values Across Marine On Saint Croix, Minnesota
Source: Ownwell
$12,550
$585,000
$1,157,450
Average Marine On Saint Croix Assessed Value
$528,150
Average Washington County Assessed Value
$376,100
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marine On Saint Croix, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55047 | $332,590 | $419,925 | $528,150 | $688,950 | $859,140 |
Source: Ownwell
Property Tax Bills Across Marine On Saint Croix, Minnesota
In Marine on Saint Croix, property tax bills are calculated based on the assessed value of a home, which is determined by the Washington County assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Marine on Saint Croix is $528,150, contributing to a median property tax bill that falls between $3,694 and $6,642 for most homeowners. Factors influencing these tax bills include the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill is around $3,694, while the 75th percentile climbs to $6,642, with some homeowners paying as much as $8,494 at the 90th percentile. These tax bills directly impact homeowners by affecting their annual housing costs, potentially influencing decisions on homeownership and property investment. Compared to the national median property tax rate of 0.99%, the rates in Marine on Saint Croix can be relatively high, reflecting the area's property values and local tax policies.
Average Marine On Saint Croix Tax Bill
$4,794
Average Washington County Tax Bill
$4,148
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Marine On Saint Croix, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55047 | $2,970 | $3,694 | $4,794 | $6,642 | $8,494 |
Source: Ownwell