Cottonwood County Property Taxes
The median property tax rate in Cottonwood County is 1.24%, significantly higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Cottonwood County, the typical annual property tax bill reaches $1,456, which is below the national median of $2,690. Property taxes in Cottonwood County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Cottonwood County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Windom or another part of Cottonwood County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cottonwood County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,603
Ownwell’s Cottonwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Cottonwood with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Cottonwood to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Cottonwood County, Minnesota
Property taxes in Cottonwood County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Cottonwood County is 1.24%, which is higher than the U.S. national median of 0.99%. Local government entities within Cottonwood County set these rates annually, and they can vary significantly between different areas within the county. Each year, Cottonwood County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Cottonwood County's effective property tax rate with other counties and the national median. For comparison, the city of Westbrook has one of the higher property tax rates in the region at 1.62%, while the city of Dundee boasts one of the lowest at 0.43%. Analyzing how Cottonwood County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Cottonwood County Tax Rate
1.24%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cottonwood County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bingham Lake | 0.56% | 0.71% | 0.96% | 1.25% | 1.37% |
| Butterfield | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
| Comfrey | 0.27% | 0.47% | 0.59% | 0.75% | 1.73% |
| Dundee | 0.34% | 0.38% | 0.43% | 0.48% | 0.52% |
| Fulda | 0.29% | 0.34% | 0.65% | 0.74% | 0.87% |
| Heron Lake | 0.21% | 0.34% | 0.60% | 0.70% | 1.13% |
| Jeffers | 0.52% | 0.86% | 1.22% | 1.51% | 1.92% |
| Lamberton | 0.26% | 0.35% | 0.53% | 0.64% | 1.01% |
| Mountain Lake | 0.81% | 1.32% | 1.59% | 1.75% | 2.04% |
| Revere | 0.30% | 0.50% | 0.63% | 0.78% | 1.40% |
| Sanborn | 0.20% | 0.30% | 0.54% | 0.60% | 0.70% |
| Storden | 0.53% | 0.85% | 0.93% | 1.29% | 1.56% |
| Walnut Grove | 0.27% | 0.39% | 0.62% | 0.67% | 0.77% |
| Westbrook | 0.60% | 1.43% | 1.62% | 1.95% | 2.32% |
| Windom | 0.74% | 0.94% | 1.18% | 1.30% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Cottonwood County, Minnesota
In Cottonwood County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Cottonwood Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Cottonwood County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Cottonwood County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. The highest median tax bill in the county is in Fulda at $2,685, while Storden has the lowest at $676.
Property Tax Assessment Values Across Cottonwood County, Minnesota
Source: Ownwell
$77,650
$226,325
$375,000
Average Cottonwood County Assessed Value
$129,300
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cottonwood County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bingham Lake | $7,440 | $69,575 | $194,250 | $336,725 | $637,860 |
| Butterfield | $286,200 | $286,200 | $286,200 | $286,200 | $286,200 |
| Comfrey | $3,370 | $80,775 | $178,350 | $343,350 | $1,280,600 |
| Dundee | $138,450 | $181,725 | $253,850 | $325,975 | $369,250 |
| Fulda | $157,100 | $227,450 | $375,000 | $1,095,250 | $1,371,850 |
| Heron Lake | $116,400 | $171,050 | $237,300 | $868,550 | $2,013,300 |
| Jeffers | $14,640 | $44,500 | $79,000 | $141,200 | $242,620 |
| Lamberton | $129,930 | $179,825 | $238,300 | $601,675 | $1,824,590 |
| Mountain Lake | $4,820 | $52,600 | $113,900 | $189,400 | $274,360 |
| Revere | $132,120 | $143,175 | $194,700 | $419,200 | $1,391,020 |
| Sanborn | $94,860 | $211,100 | $285,000 | $1,293,100 | $2,115,360 |
| Storden | $5,080 | $36,175 | $77,650 | $130,600 | $194,010 |
| Walnut Grove | $111,940 | $131,750 | $190,450 | $348,925 | $1,414,630 |
| Westbrook | $13,800 | $42,900 | $86,600 | $149,200 | $235,500 |
| Windom | $31,700 | $87,950 | $148,850 | $216,100 | $310,840 |
Source: Ownwell
Property Tax Bills Across Cottonwood County, Minnesota
In Cottonwood County, MN, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is an estimate of the property's market value, which is then multiplied by the county's tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of similar properties in the area. Homeowners in Cottonwood County face varying tax bills depending on their property's assessed value. For example, the median home price in the county is $129,300, leading to a range of tax bills. The 25th percentile tax bill is $726, while the 75th percentile reaches $2,512, and the 90th percentile can be as high as $3,746. The highest median tax bill in the county is found in Fulda at $2,685, whereas Storden has the lowest median tax bill at $676. These variations significantly impact homeowners' annual expenses, influencing their financial planning and property investment decisions.
Average Cottonwood County Tax Bill
$1,456
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Cottonwood County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bingham Lake | $111 | $646 | $1,572 | $3,230 | $4,782 |
| Butterfield | $2,398 | $2,398 | $2,398 | $2,398 | $2,398 |
| Comfrey | $77 | $642 | $1,377 | $2,470 | $3,357 |
| Dundee | $658 | $763 | $938 | $1,113 | $1,218 |
| Fulda | $1,060 | $2,102 | $2,685 | $3,408 | $4,626 |
| Heron Lake | $720 | $1,048 | $1,858 | $3,246 | $5,514 |
| Jeffers | $192 | $522 | $894 | $1,524 | $2,323 |
| Lamberton | $858 | $1,036 | $1,818 | $3,130 | $4,893 |
| Mountain Lake | $86 | $748 | $1,621 | $2,738 | $3,888 |
| Revere | $835 | $994 | $2,153 | $2,776 | $2,996 |
| Sanborn | $527 | $969 | $1,854 | $3,465 | $4,950 |
| Storden | $73 | $354 | $676 | $1,036 | $1,753 |
| Walnut Grove | $729 | $884 | $1,220 | $1,624 | $3,185 |
| Westbrook | $288 | $708 | $1,158 | $2,051 | $3,220 |
| Windom | $317 | $832 | $1,654 | $2,612 | $3,784 |
Source: Ownwell