Excelsior, Carver County, Minnesota Property Taxes
Median Excelsior, MN effective property tax rate: 1.05%, slightly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Excelsior, MN home value: $615,700
Median annual Excelsior, MN tax bill: $6,449, $4,049 higher than the national median property tax bill of $2,400.
How are property taxes in Carver County calculated?
Property taxes in Excelsior, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Excelsior’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Excelsior, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Excelsior, Carver County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.05%
Estimate Property Tax Bill
$6,465
$5,999
Property Tax Rates Across Excelsior, Carver County, Minnesota
Local government entities set tax rates, and these can vary widely within a state. Each year, counties estimate their required budget to provide services and divide that by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
Excelsior in Carver County, Minnesota, presents an interesting case for property taxes. The effective property tax rate here is 1.05%, aligning with both the highest and lowest rates in the region. Compared to the national median property tax rate of 1.02%, Excelsior's rate is slightly higher. This difference can impact homeowners' annual tax bills, as the national median property tax bill is $2,400. Such comparisons highlight the importance of understanding local property tax rates and how they can influence financial planning for property owners.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Excelsior Tax Rate
1.05%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Carver County Tax Rate
1.09%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Excelsior, Carver County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55331 | 0.99% | 1.01% | 1.05% | 1.11% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Excelsior, Carver County, Minnesota
When examining property taxes in Excelsior, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Carver County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Carver County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Excelsior.
For example, the median home price in Excelsior is $615,700, with tax bills ranging significantly across the county. Zip code 55331 has the highest median home price at $615,700.
Property Tax Assessment Values Across Excelsior, Carver County, Minnesota
Source: Ownwell
$249,300
$432,500
$615,700
Median Excelsior Market Value
$615,700
Median Carver County Market Value
$399,500
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Excelsior, Carver County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55331 | $364,680 | $448,350 | $615,700 | $859,800 | $1,280,280 |
Source: Ownwell
Property Tax Bills Across Excelsior, Carver County, Minnesota
In Excelsior, property tax bills are determined by multiplying the assessed value of a home by the local tax rate set by Carver County. The assessed value is a percentage of the property's market value, which is influenced by factors such as location, size, and market trends. Homeowners in Excelsior face a median tax bill of $6,449, which is significantly higher than the national median of $2,400. This reflects the area's desirable real estate market and higher home values. For homeowners, this means a substantial financial commitment, impacting monthly budgets and long-term financial planning.
Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing your property's assessment and comparing it to similar properties, Ownwell identifies potential savings and guides you through the appeal process. This can result in a reduced tax bill, easing the financial burden on homeowners. With expertise and a proven track record, Ownwell helps ensure you're not overpaying on property taxes, allowing you to allocate those savings to other priorities.
Median Excelsior Tax Bill
$6,449
Median Carver County Tax Bill
$4,166
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Excelsior, Carver County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55331 | $3,716 | $4,630 | $6,449 | $9,356 | $14,550 |
Source: Ownwell