Redwood County Property Taxes
The median property tax rate in Redwood County is 1.19%, which is notably higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $117,650 in Redwood County, the typical annual property tax bill amounts to $1,276, surpassing the national median of $2,690. Property taxes in Redwood County are calculated based on the assessed value, which usually falls below the actual market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Redwood 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 Redwood Falls or another part of Redwood County, gaining comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Redwood County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$1,400
Ownwell’s Redwood County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Redwood County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Redwood County 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 Redwood County, Minnesota
Property taxes in Redwood County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Redwood County is 1.19%, which is higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Redwood County set these rates annually, and they can vary significantly between different areas within the county. Each year, Redwood 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 Redwood County's effective property tax rate with other counties in Minnesota and the national median. For comparison, the city of Milroy has one of the higher property tax rates in Minnesota at 1.83%, while the city of Springfield boasts one of the lowest at 0.66%. Analyzing how Redwood County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Redwood County Tax Rate
1.19%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Redwood County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belview | 0.55% | 0.61% | 1.36% | 1.68% | 2.31% |
| Clements | 0.65% | 0.86% | 1.18% | 1.66% | 2.01% |
| Echo | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
| Franklin | 0.55% | 0.66% | 0.69% | 0.79% | 0.90% |
| Lamberton | 0.65% | 1.23% | 1.71% | 2.40% | 3.05% |
| Lucan | 0.56% | 0.85% | 1.50% | 1.92% | 2.58% |
| Marshall | 0.45% | 0.88% | 0.93% | 0.98% | 1.06% |
| Milroy | 0.84% | 0.95% | 1.83% | 2.10% | 2.69% |
| Morgan | 0.74% | 1.09% | 1.22% | 1.49% | 1.86% |
| Morton | 0.44% | 0.58% | 0.69% | 0.77% | 1.16% |
| Redwood Falls | 0.64% | 0.93% | 1.12% | 1.28% | 1.43% |
| Renville | 0.52% | 0.58% | 0.67% | 0.70% | 0.73% |
| Revere | 0.46% | 0.75% | 1.80% | 2.76% | 3.06% |
| Sanborn | 0.63% | 0.91% | 1.00% | 1.20% | 1.55% |
| Seaforth | 1.21% | 1.41% | 1.54% | 2.41% | 2.53% |
| Sleepy Eye | 0.44% | 0.61% | 0.70% | 0.85% | 0.93% |
| Springfield | 0.36% | 0.61% | 0.66% | 0.72% | 0.78% |
| Tracy | 0.55% | 0.64% | 0.68% | 0.73% | 0.82% |
| Vesta | 0.56% | 0.93% | 1.23% | 1.55% | 1.70% |
| Wabasso | 0.55% | 1.06% | 1.36% | 1.55% | 1.87% |
| Walnut Grove | 0.71% | 1.09% | 1.21% | 1.60% | 1.71% |
| Wanda | 1.27% | 1.34% | 1.55% | 2.17% | 2.21% |
| Wood Lake | 0.79% | 0.83% | 0.90% | 0.97% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Redwood County, Minnesota
In Redwood 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 Redwood County 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 Redwood 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. For instance, Marshall has the highest median tax bill at $3,153, while Sanborn has the lowest at $786. Being aware of these valuation processes in Redwood County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Redwood County, Minnesota
Source: Ownwell
$46,650
$175,025
$303,400
Average Redwood County Assessed Value
$117,650
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Redwood County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belview | $9,800 | $49,750 | $91,500 | $159,150 | $238,600 |
| Clements | $5,100 | $25,500 | $83,600 | $172,300 | $252,380 |
| Echo | $294,800 | $294,800 | $294,800 | $294,800 | $294,800 |
| Franklin | $151,940 | $242,600 | $273,300 | $471,400 | $581,500 |
| Lamberton | $10,390 | $45,700 | $80,750 | $146,450 | $254,940 |
| Lucan | $18,200 | $64,100 | $109,650 | $182,800 | $320,350 |
| Marshall | $205,450 | $264,100 | $298,500 | $366,350 | $415,150 |
| Milroy | $20,040 | $75,775 | $121,300 | $181,400 | $280,930 |
| Morgan | $18,660 | $60,825 | $105,350 | $172,275 | $268,780 |
| Morton | $47,070 | $185,975 | $303,400 | $418,600 | $524,370 |
| Redwood Falls | $31,080 | $84,775 | $144,400 | $226,500 | $344,860 |
| Renville | $63,210 | $90,825 | $128,300 | $366,900 | $570,900 |
| Revere | $4,760 | $20,700 | $55,900 | $228,600 | $339,260 |
| Sanborn | $21,130 | $45,775 | $84,550 | $143,125 | $237,070 |
| Seaforth | $3,310 | $17,800 | $46,650 | $101,100 | $162,650 |
| Sleepy Eye | $162,660 | $177,450 | $221,150 | $258,875 | $551,930 |
| Springfield | $144,200 | $174,150 | $241,550 | $413,350 | $1,128,800 |
| Tracy | $191,050 | $214,200 | $278,350 | $360,825 | $404,350 |
| Vesta | $5,580 | $46,700 | $94,500 | $175,600 | $311,600 |
| Wabasso | $45,820 | $82,300 | $140,600 | $232,900 | $373,460 |
| Walnut Grove | $8,420 | $40,300 | $76,000 | $128,750 | $244,360 |
| Wanda | $3,200 | $22,300 | $69,100 | $103,100 | $132,560 |
| Wood Lake | $163,630 | $202,975 | $268,550 | $334,125 | $373,470 |
Source: Ownwell
Property Tax Bills Across Redwood County, Minnesota
In Redwood County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by county assessors. The median home price in Redwood County is $117,650. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Redwood County experience a range of tax bills. For instance, those in the 25th percentile pay around $712 annually, while those in the 75th percentile pay approximately $2,173. At the 90th percentile, tax bills can reach up to $3,281. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. The highest median tax bill within the county is found in Marshall, at $3,153, whereas Sanborn has the lowest median tax bill at $786. These variations affect homeowners differently, depending on their property's assessed value and location within the county.
Average Redwood County Tax Bill
$1,276
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Redwood County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belview | $171 | $682 | $993 | $1,476 | $2,258 |
| Clements | $146 | $390 | $928 | $1,470 | $1,747 |
| Echo | $2,026 | $2,026 | $2,026 | $2,026 | $2,026 |
| Franklin | $1,180 | $1,606 | $1,898 | $3,166 | $3,504 |
| Lamberton | $302 | $738 | $1,244 | $2,146 | $3,814 |
| Lucan | $392 | $927 | $1,295 | $2,246 | $3,360 |
| Marshall | $679 | $1,732 | $3,153 | $3,484 | $3,835 |
| Milroy | $475 | $1,206 | $1,884 | $2,656 | $3,448 |
| Morgan | $269 | $738 | $1,242 | $2,073 | $2,971 |
| Morton | $386 | $1,147 | $2,142 | $2,754 | $3,748 |
| Redwood Falls | $305 | $810 | $1,428 | $2,446 | $3,473 |
| Renville | $542 | $620 | $1,100 | $2,689 | $3,455 |
| Revere | $241 | $460 | $1,002 | $1,732 | $2,473 |
| Sanborn | $280 | $475 | $786 | $1,310 | $1,842 |
| Seaforth | $83 | $312 | $791 | $1,234 | $2,749 |
| Sleepy Eye | $1,109 | $1,347 | $1,679 | $2,022 | $2,506 |
| Springfield | $933 | $1,211 | $1,703 | $2,707 | $4,307 |
| Tracy | $1,204 | $1,430 | $1,894 | $2,554 | $3,298 |
| Vesta | $84 | $611 | $1,044 | $1,728 | $2,660 |
| Wabasso | $598 | $976 | $1,526 | $2,546 | $3,833 |
| Walnut Grove | $162 | $536 | $872 | $1,488 | $2,450 |
| Wanda | $72 | $436 | $938 | $1,440 | $2,121 |
| Wood Lake | $1,586 | $1,826 | $2,226 | $2,626 | $2,866 |
Source: Ownwell