Stewart, Mcleod County, Minnesota Property Taxes
Median Stewart, MN effective property tax rate: 2.48%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Stewart, MN home value: $11,000
Median annual Stewart, MN tax bill: $499, $1,901 lower than the national median property tax bill of $2,400.
How are property taxes in McLeod calculated?
Property taxes in Stewart, 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 Stewart’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Stewart, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Stewart, Mcleod County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.48%
Estimate Property Tax Bill
$273
$253
Property Tax Rates Across Stewart, Mcleod County, Minnesota
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results 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.
In Stewart, located in McLeod County, MN, the effective property tax rate stands at 2.48%. This rate is notably higher than the national median property tax rate of 1.02%. Comparatively, Stewart's rate is consistent with the highest and lowest median tax rates within its own zip code, 55385, reflecting a uniformity in property tax assessments across the area. When compared to other cities in Minnesota, Stewart's rate remains competitive, though it surpasses the national average. Understanding these rates can help property owners in Stewart make informed decisions about their property tax obligations and potential savings through appeals or exemptions.
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 Stewart Tax Rate
2.48%
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 Mcleod County Tax Rate
1.47%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Stewart, Mcleod County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55385 | 1.11% | 2.05% | 2.48% | 5.73% | 9.49% |
Source: Ownwell
Property Tax Assessment Values Across Stewart, Mcleod County, Minnesota
When examining property taxes in Stewart, 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 McLeod County appraisal district 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.
In McLeod 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 Stewart. For example, the median home price in Stewart is $11,000, with tax bills ranging significantly across the county. Zip code 55385 has the highest median home price at $11,000.
Property Tax Assessment Values Across Stewart, Mcleod County, Minnesota
Source: Ownwell
$11,000
$27,400
$43,800
Median Stewart Market Value
$11,000
Median Mcleod County Market Value
$25,200
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Stewart, Mcleod County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55385 | $4,220 | $5,850 | $11,000 | $20,000 | $95,790 |
Source: Ownwell
Property Tax Bills Across Stewart, Mcleod County, Minnesota
In Stewart, McLeod County, MN, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this value to determine the tax bill. In Stewart, the median home price is $11,000, which is significantly lower than the national median. Consequently, property tax bills are generally lower than the national median property tax bill of $2,400. The tax bill in Stewart ranges from the 25th percentile at $270 to the 90th percentile at $2,060.
Factors such as changes in market conditions, property improvements, and local government budgets can affect the assessed value and, subsequently, the tax bill. Homeowners in Stewart may face financial challenges if their property taxes increase unexpectedly. Ownwell can assist homeowners by providing property tax appeal services, potentially reducing their tax burden. By analyzing property assessments and market data, Ownwell identifies discrepancies and advocates for a fair tax bill, helping homeowners save money and ensuring they are not overpaying on their property taxes.
Median Stewart Tax Bill
$499
Median Mcleod County Tax Bill
$460
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Stewart, Mcleod County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55385 | $153 | $270 | $499 | $1,451 | $2,060 |
Source: Ownwell