White Bear Lake, Minnesota Property Taxes
The median property tax rate in White Bear Lake, MN is 1.00%, slightly higher than the national median of 0.99% but lower than Minnesota's state median of 1.11%. With the median home value in White Bear Lake at $437,800, the typical annual property tax bill reaches $4,397, surpassing the national median of $2,690. Property taxes in White Bear Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding White Bear Lake'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 White Bear Lake 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
White Bear Lake, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s White Bear Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in White Bear Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in White Bear Lake 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 White Bear Lake, Minnesota
Property taxes in White Bear Lake, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in White Bear Lake is 1.00%, which is slightly above the U.S. national median of 0.99%. Local government entities within White Bear Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, White Bear Lake 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 White Bear Lake's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55110 has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these areas compare with White Bear Lake 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 White Bear Lake Tax Rate
1.00%
Average Washington County Tax Rate
1.12%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across White Bear Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55110 | 1.00% | 1.00% | 1.00% | 1.01% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across White Bear Lake, Minnesota
In White Bear Lake, 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 White Bear Lake, 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. For instance, the median home price in White Bear Lake is $437,800, and the annual property tax bill ranges from $3,884 at the 25th percentile to $5,550 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across White Bear Lake, Minnesota
Source: Ownwell
$12,550
$585,000
$1,157,450
Average White Bear Lake Assessed Value
$437,800
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 White Bear Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55110 | $271,100 | $388,600 | $437,800 | $505,125 | $543,750 |
Source: Ownwell
Property Tax Bills Across White Bear Lake, Minnesota
In White Bear Lake, located in Washington County, MN, property tax bills are calculated based on the assessed value of a home. The county assessor evaluates properties to determine their market value, and the assessed value is then used to calculate the tax bill. Several factors influence the tax bill, including the property's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in White Bear Lake can expect varying tax bills depending on their property's value. For instance, the tax bill at the 25th percentile is around $3,884, while at the 75th percentile, it reaches approximately $5,083. The 90th percentile tax bill is about $5,550. These figures indicate that property taxes in White Bear Lake can be a significant expense for homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly. By staying informed about property assessments and local tax rates, homeowners can better manage their annual tax bills.
Average White Bear Lake Tax Bill
$4,397
Average Washington County Tax Bill
$4,148
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across White Bear Lake, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55110 | $2,726 | $3,884 | $4,397 | $5,083 | $5,550 |
Source: Ownwell