Lewiston, Minnesota Property Taxes
The median property tax rate in Lewiston, MN is 1.30%, considerably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Lewiston at $220,400, the typical annual property tax bill reaches $2,564, closely aligning with the national median of $2,690. Property taxes in Lewiston 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 Lewiston'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 Lewiston 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
Lewiston, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,865
Ownwell’s Lewiston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lewiston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lewiston 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 Lewiston, Minnesota
Property taxes in Lewiston, Minnesota, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lewiston is 1.30%, significantly higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Lewiston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lewiston 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 Lewiston's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55952 has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Lewiston provides valuable insights into the varying tax landscape across Winona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewiston Tax Rate
1.30%
Average Winona County Tax Rate
0.91%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lewiston, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55952 | 0.53% | 0.72% | 1.30% | 1.47% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Lewiston, Minnesota
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lewiston, Minnesota. 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 Winona 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 Lewiston, 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 Lewiston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Lewiston are both $2,564 in the zip code 55952.
Average Lewiston Assessed Value
$220,400
Average Winona County Assessed Value
$212,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lewiston, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55952 | $69,860 | $154,900 | $220,400 | $321,700 | $600,180 |
Source: Ownwell
Property Tax Bills Across Lewiston, Minnesota
In Lewiston, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Lewiston, the median home price is $220,400, and the tax rate in Winona County significantly impacts the final tax amount. Factors such as property location, improvements, and market conditions are considered when assessing property value. Homeowners in the 25th percentile can expect a tax bill around $1,680, while those in the 75th percentile might see bills as high as $3,704. For the top 10% of properties, tax bills can reach up to $4,770. Compared to the national median property tax rate of 0.99%, Lewiston's property taxes can vary widely, affecting homeowners' financial planning and budgeting. Understanding these factors can help homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Lewiston Tax Bill
$2,564
Average Winona County Tax Bill
$1,884
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Lewiston, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55952 | $528 | $1,680 | $2,564 | $3,704 | $4,770 |
Source: Ownwell