Mountain Iron, St. Louis County, Minnesota Property Taxes
Property Taxes in Mountain Iron, Minnesota
Median Mountain Iron, Minnesota effective property tax rate: 0.85%, significantly lower than the national median of 1.02%, and lower than the Minnesota state median of 1.13%.
Median Mountain Iron, Minnesota home value: $141,200
Median annual Mountain Iron, Minnesota tax bill: $992, lower than the national median property tax bill of $2,400.
How are property taxes in St. Louis calculated?
Property taxes in Mountain Iron, Minnesota 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 Mountain Iron's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mountain Iron, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Mountain Iron, St. Louis County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.85%
Estimate Property Tax Bill
$1,200
$1,114
How Does the Mountain Iron Property Tax Calculator Work?
Use this Mountain Iron property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Mountain Iron's median effective tax rate of 0.85% — based on actual property records in St. Louis County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Mountain Iron's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Mountain Iron: rates range from 0.85% in 55768 to 0.85% in 55768, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Mountain Iron.
About Mountain Iron Property Taxes
About Property Taxes in Mountain Iron, St. Louis, Minnesota
Mountain Iron’s median effective property tax rate of 0.85% is lower than the Minnesota state median of 1.13% and lower than the national median of 1.02%. This rate reflects the St. Louis County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Mountain Iron. Homeowners in the 55768 ZIP code carry a median effective rate of 0.85%, while those in the same ZIP code also pay 0.85%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across St. Louis County. Understanding which part of Mountain Iron you live in can make a meaningful difference to your annual tax bill.
Mountain Iron homeowners who believe their assessed value is too high can file a formal appeal before the April 30, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Mountain Iron, St. Louis County, Minnesota
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Mountain Iron's effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.
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 Mountain Iron Tax Rate
0.85%
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 St. Louis County Tax Rate
1.21%
Median Effective Minnesota Tax Rate
1.13%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mountain Iron, St. Louis County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55768 | 0.31% | 0.60% | 0.85% | 1.13% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Mountain Iron, St. Louis County, Minnesota
When examining property taxes in Mountain Iron, Minnesota, 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 St. Louis 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.
Assessment notices are sent in April each year, and property owners typically receive them by the middle of the month. Each notice includes both the market value and assessed value, along with an estimate of your property tax bill.
For example, the median home price in Mountain Iron is $141,200, with a median tax bill of $992. That is well below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%.
Property Tax Assessment Values Across Mountain Iron, St. Louis County, Minnesota
Source: Ownwell
$26,600
$155,000
$283,400
Median Mountain Iron Market Value
$141,200
Median St. Louis County Market Value
$153,800
Median Minnesota Market Value
$304,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mountain Iron, St. Louis County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55768 | $7,280 | $66,375 | $141,200 | $212,325 | $319,590 |
Source: Ownwell
Property Tax Bills Across Mountain Iron, St. Louis County, Minnesota
Mountain Iron property tax bills are calculated by applying the local tax rate to a home’s assessed market value, then adjusting for any exemptions or special levies that apply. The assessed value is based on what the property is worth for tax purposes, not necessarily what a homeowner paid for it. Local taxing authorities use that value to determine how much each property owner owes.
Several factors shape the final bill, including the home’s market value, the county’s tax rate, and any local budgets approved for schools, roads, and other services. In Mountain Iron, the median home price is $141,200, and the median property tax bill is $992, which is below the national median property tax bill of $2,400 and reflects a lower-than-average tax burden.
For homeowners, this means taxes can vary widely from one property to another, even within the same city. A higher assessed value or fewer exemptions can increase the bill, while a lower assessed value can reduce it.
Median Mountain Iron Tax Bill
$992
Median St. Louis County Tax Bill
$1,856
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Mountain Iron, St. Louis County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55768 | $84 | $307 | $992 | $1,853 | $3,152 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 30 |
Links | |
|---|---|
| St. Louis Tax Assessor | |
| Website | www.stlouiscountymn.gov |