Joint Species Distribution Modeling (JSDM) is a key enabler for biodiversity monitoring and conservation planning. However, accurate JSDM faces two coupled challenges: environmental drivers and species distributions are inherently spatio-temporal, while species co-occurrence patterns exhibit complex non-linear community structure and severe long-tail imbalance driven by rare species. Existing approaches often address these factors in isolation, learning from static covariates or neglecting the historical trajectories of dynamic community structure. To overcome these limitations, we propose STELLAR (Spatio-Temporal Environmental Learning with Latent Alignment and Refinement), a novel framework that learns a shared latent space where dynamic habitat context and community structure are optimized jointly. Our approach integrates three complementary components: (1) a Graph-Temporal Encoder that employs graph attention and recurrent units to aggregate spatial neighborhood effects and capture the co-evolving historical dynamics of environmental context and community structure; (2) a Context-Anchored Latent Alignment mechanism that structures the latent space using a label-activated mixture prior and supervised contrastive learning, actively clustering species based on shared environmental preferences; and (3) an Imbalance-Aware Decoupled Decoding module that utilizes Asymmetric Loss to focus learning on hard, rare species samples, preventing mode collapse in the long tail. Experiments on the large-scale eBird dataset, curated with domain experts, demonstrate that our framework significantly outperforms state-of-the-art baselines, particularly in predicting rare species and revealing interpretable species interactions.