diff --git a/python/psi-api/src/com/jetbrains/python/psi/PyAnnotationOwner.java b/python/psi-api/src/com/jetbrains/python/psi/PyAnnotationOwner.java
index fa96afd6a16a..f8d6d5d9f75b 100644
--- a/python/psi-api/src/com/jetbrains/python/psi/PyAnnotationOwner.java
+++ b/python/psi-api/src/com/jetbrains/python/psi/PyAnnotationOwner.java
@@ -24,6 +24,12 @@ public interface PyAnnotationOwner {
   @Nullable
   PyAnnotation getAnnotation();
 
+  /**
+   * Returns the text of the annotation with the leading colon and arrow stripped.
+   * <p>
+   * It's supposed to be the same value as one can get by calling {@code elem.getAnnotation().getValue().getText()},
+   * but taken from the corresponding stub instead of AST.
+   */
   @Nullable
-  String getAnnotationContent();
+  String getAnnotationValue();
 }
diff --git a/python/src/com/jetbrains/python/PyTypeDeclarationStatementImpl.java b/python/src/com/jetbrains/python/PyTypeDeclarationStatementImpl.java
index 106ad71b77e8..0103c0fb0971 100644
--- a/python/src/com/jetbrains/python/PyTypeDeclarationStatementImpl.java
+++ b/python/src/com/jetbrains/python/PyTypeDeclarationStatementImpl.java
@@ -46,7 +46,7 @@ public class PyTypeDeclarationStatementImpl extends PyElementImpl implements PyT
 
   @Nullable
   @Override
-  public String getAnnotationContent() {
+  public String getAnnotationValue() {
     return getAnnotationContentFromPsi(this);
   }
 
diff --git a/python/src/com/jetbrains/python/codeInsight/typing/PyTypingTypeProvider.java b/python/src/com/jetbrains/python/codeInsight/typing/PyTypingTypeProvider.java
index f9b895986b6c..5dc7e5f700a9 100644
--- a/python/src/com/jetbrains/python/codeInsight/typing/PyTypingTypeProvider.java
+++ b/python/src/com/jetbrains/python/codeInsight/typing/PyTypingTypeProvider.java
@@ -201,7 +201,7 @@ public class PyTypingTypeProvider extends PyTypeProviderBase {
   @Nullable
   private static Ref<PyType> getParameterTypeFromAnnotation(@NotNull PyNamedParameter parameter, @NotNull TypeEvalContext context) {
     final Ref<PyType> annotationValueTypeRef = Optional
-      .ofNullable(parameter.getAnnotationContent())
+      .ofNullable(parameter.getAnnotationValue())
       .map(text -> getStringBasedType(text, parameter, context))
       .orElse(null);
 
@@ -258,7 +258,7 @@ public class PyTypingTypeProvider extends PyTypeProviderBase {
 
   @Nullable
   private static PyExpression getReturnTypeAnnotation(@NotNull PyFunction function) {
-    final String annotation = function.getAnnotationContent();
+    final String annotation = function.getAnnotationValue();
     if (annotation != null) {
       return createExpressionFromFragment(annotation, function);
     }
@@ -303,7 +303,7 @@ public class PyTypingTypeProvider extends PyTypeProviderBase {
       if (GENERIC.equals(target.getQualifiedName())) {
         return createTypingGenericType();
       }
-      final String annotation = target.getAnnotationContent();
+      final String annotation = target.getAnnotationValue();
       if (annotation != null) {
         return Ref.deref(getStringBasedType(annotation, target, context));
       }
diff --git a/python/src/com/jetbrains/python/psi/impl/PyAssignmentStatementImpl.java b/python/src/com/jetbrains/python/psi/impl/PyAssignmentStatementImpl.java
index 238534a1d321..b4457cc58868 100644
--- a/python/src/com/jetbrains/python/psi/impl/PyAssignmentStatementImpl.java
+++ b/python/src/com/jetbrains/python/psi/impl/PyAssignmentStatementImpl.java
@@ -104,7 +104,7 @@ public class PyAssignmentStatementImpl extends PyElementImpl implements PyAssign
 
   @Nullable
   @Override
-  public String getAnnotationContent() {
+  public String getAnnotationValue() {
     return getAnnotationContentFromPsi(this);
   }
 
diff --git a/python/src/com/jetbrains/python/psi/impl/PyFunctionImpl.java b/python/src/com/jetbrains/python/psi/impl/PyFunctionImpl.java
index ed054704cc21..95f663a7ebc7 100644
--- a/python/src/com/jetbrains/python/psi/impl/PyFunctionImpl.java
+++ b/python/src/com/jetbrains/python/psi/impl/PyFunctionImpl.java
@@ -601,7 +601,7 @@ public class PyFunctionImpl extends PyBaseElementImpl<PyFunctionStub> implements
 
   @Nullable
   @Override
-  public String getAnnotationContent() {
+  public String getAnnotationValue() {
     return getAnnotationContentFromStubOrPsi(this);
   }
 
diff --git a/python/src/com/jetbrains/python/psi/impl/PyNamedParameterImpl.java b/python/src/com/jetbrains/python/psi/impl/PyNamedParameterImpl.java
index 928009dd724a..976161e54c95 100644
--- a/python/src/com/jetbrains/python/psi/impl/PyNamedParameterImpl.java
+++ b/python/src/com/jetbrains/python/psi/impl/PyNamedParameterImpl.java
@@ -193,7 +193,7 @@ public class PyNamedParameterImpl extends PyBaseElementImpl<PyNamedParameterStub
 
   @Nullable
   @Override
-  public String getAnnotationContent() {
+  public String getAnnotationValue() {
     return getAnnotationContentFromStubOrPsi(this);
   }
 
diff --git a/python/src/com/jetbrains/python/psi/impl/PyTargetExpressionImpl.java b/python/src/com/jetbrains/python/psi/impl/PyTargetExpressionImpl.java
index 6a2a87bebcfe..1dbfbeed16fb 100644
--- a/python/src/com/jetbrains/python/psi/impl/PyTargetExpressionImpl.java
+++ b/python/src/com/jetbrains/python/psi/impl/PyTargetExpressionImpl.java
@@ -242,7 +242,7 @@ public class PyTargetExpressionImpl extends PyBaseElementImpl<PyTargetExpression
 
   @Nullable
   @Override
-  public String getAnnotationContent() {
+  public String getAnnotationValue() {
     return getAnnotationContentFromStubOrPsi(this);
   }
 
diff --git a/python/src/com/jetbrains/python/psi/impl/stubs/PyFunctionElementType.java b/python/src/com/jetbrains/python/psi/impl/stubs/PyFunctionElementType.java
index 89b868dd9016..02d79864100f 100644
--- a/python/src/com/jetbrains/python/psi/impl/stubs/PyFunctionElementType.java
+++ b/python/src/com/jetbrains/python/psi/impl/stubs/PyFunctionElementType.java
@@ -60,7 +60,7 @@ public class PyFunctionElementType extends PyStubElementType<PyFunctionStub, PyF
     final String message = function.extractDeprecationMessage();
     final PyStringLiteralExpression docStringExpression = function.getDocStringExpression();
     final String typeComment = function.getTypeCommentAnnotation();
-    final String annotationContent = function.getAnnotationContent();
+    final String annotationContent = function.getAnnotationValue();
     return new PyFunctionStubImpl(psi.getName(),
                                   PyPsiUtils.strValue(docStringExpression),
                                   message,
diff --git a/python/src/com/jetbrains/python/psi/impl/stubs/PyNamedParameterElementType.java b/python/src/com/jetbrains/python/psi/impl/stubs/PyNamedParameterElementType.java
index b719498eb389..974833a83fcc 100644
--- a/python/src/com/jetbrains/python/psi/impl/stubs/PyNamedParameterElementType.java
+++ b/python/src/com/jetbrains/python/psi/impl/stubs/PyNamedParameterElementType.java
@@ -56,7 +56,7 @@ public class PyNamedParameterElementType extends PyStubElementType<PyNamedParame
   @NotNull
   public PyNamedParameterStub createStub(@NotNull final PyNamedParameter psi, final StubElement parentStub) {
     return new PyNamedParameterStubImpl(psi.getName(), psi.isPositionalContainer(), psi.isKeywordContainer(), psi.hasDefaultValue(),
-                                        psi.getTypeCommentAnnotation(), psi.getAnnotationContent() , parentStub, getStubElementType());
+                                        psi.getTypeCommentAnnotation(), psi.getAnnotationValue() , parentStub, getStubElementType());
   }
 
   @NotNull
diff --git a/python/src/com/jetbrains/python/psi/impl/stubs/PyTargetExpressionElementType.java b/python/src/com/jetbrains/python/psi/impl/stubs/PyTargetExpressionElementType.java
index 8934ae3c417e..8f7193ce87bc 100644
--- a/python/src/com/jetbrains/python/psi/impl/stubs/PyTargetExpressionElementType.java
+++ b/python/src/com/jetbrains/python/psi/impl/stubs/PyTargetExpressionElementType.java
@@ -74,7 +74,7 @@ public class PyTargetExpressionElementType extends PyStubElementType<PyTargetExp
     final PyExpression assignedValue = psi.findAssignedValue();
     final String docString = DocStringUtil.getDocStringValue(psi);
     final String typeComment = psi.getTypeCommentAnnotation();
-    final String annotation = psi.getAnnotationContent();
+    final String annotation = psi.getAnnotationValue();
     
     for (CustomTargetExpressionStubType customStubType : getCustomStubTypes()) {
       CustomTargetExpressionStub customStub = customStubType.createStub(psi);
diff --git a/python/testSrc/com/jetbrains/python/PyStubsTest.java b/python/testSrc/com/jetbrains/python/PyStubsTest.java
index d49de62314f5..60a1c931713f 100644
--- a/python/testSrc/com/jetbrains/python/PyStubsTest.java
+++ b/python/testSrc/com/jetbrains/python/PyStubsTest.java
@@ -729,7 +729,7 @@ public class PyStubsTest extends PyTestCase {
       final PyFile file = getTestFile();
       final PyFunction func = file.findTopLevelFunction("func");
       final PyNamedParameter param = func.getParameterList().findParameterByName("x");
-      final String annotation = param.getAnnotationContent();
+      final String annotation = param.getAnnotationValue();
       assertEquals("int", annotation);
       assertNotParsed(file);
       final TypeEvalContext context = TypeEvalContext.codeInsightFallback(myFixture.getProject());
@@ -743,7 +743,7 @@ public class PyStubsTest extends PyTestCase {
     runWithLanguageLevel(LanguageLevel.PYTHON30, () -> {
       final PyFile file = getTestFile();
       final PyFunction func = file.findTopLevelFunction("func");
-      final String annotation = func.getAnnotationContent();
+      final String annotation = func.getAnnotationValue();
       assertEquals("int", annotation);
       assertNotParsed(file);
       assertType("() -> int", func, TypeEvalContext.codeInsightFallback(myFixture.getProject()));
@@ -756,7 +756,7 @@ public class PyStubsTest extends PyTestCase {
     runWithLanguageLevel(LanguageLevel.PYTHON36, () -> {
       final PyFile file = getTestFile();
       final PyTargetExpression var = file.findTopLevelAttribute("x");
-      final String annotation = var.getAnnotationContent();
+      final String annotation = var.getAnnotationValue();
       assertEquals("int", annotation);
       assertNotParsed(file);
       assertType("int", var, TypeEvalContext.codeInsightFallback(myFixture.getProject()));