Stillwater, Minnesota Property Taxes
The median property tax rate in Stillwater, MN is 1.05%, which is higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Stillwater, the typical annual property tax bill reaches $4,224, exceeding the national median of $2,690. Property taxes in Stillwater 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 Stillwater'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 Stillwater 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
Stillwater, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$4,561
Ownwell’s Stillwater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stillwater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stillwater 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 Stillwater, Minnesota
Property taxes in Stillwater, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stillwater is 1.05%, higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Stillwater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stillwater 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 Stillwater's effective property tax rate to other counties in Minnesota and the national median. For comparison, the 55082 zip code has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Stillwater 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 Stillwater Tax Rate
1.05%
Average Washington County Tax Rate
1.12%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stillwater, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55082 | 0.73% | 0.81% | 1.05% | 1.10% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Stillwater, Minnesota
In Stillwater, 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. In Stillwater, 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 Stillwater helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Stillwater are both $4,224, found in the 55082 zip code.
Average Stillwater Assessed Value
$434,400
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 Stillwater, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55082 | $249,200 | $320,150 | $434,400 | $590,500 | $779,660 |
Source: Ownwell
Property Tax Bills Across Stillwater, Minnesota
In Stillwater, Washington County, MN, property tax bills are calculated based on the assessed value of a home. Assessors determine this value by evaluating various factors, including the property's size, location, and condition. The assessed value is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $434,400, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $3,264, while at the 75th percentile, it rises to approximately $5,530. The highest tax bills, at the 90th percentile, can reach up to $7,266. These tax bills can significantly impact homeowners, influencing their annual budget and long-term financial planning. Compared to the national median property tax rate of 0.99%, Stillwater's rates reflect the local economic conditions and public service funding needs. Homeowners in the 55082 zip code experience a median tax bill of $4,224, highlighting the area's specific tax dynamics.
Average Stillwater Tax Bill
$4,224
Average Washington County Tax Bill
$4,148
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Stillwater, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55082 | $2,560 | $3,264 | $4,224 | $5,530 | $7,266 |
Source: Ownwell