Rushford, Minnesota Property Taxes
The median property tax rate in Rushford, MN is 0.69%, significantly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Rushford at $347,400, the typical annual property tax bill is $2,310, which is below the national median of $2,690. Property taxes in Rushford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rushford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Rushford or another part of Winona County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rushford, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$2,397
Ownwell’s Rushford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rushford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rushford to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Rushford, Minnesota
Property taxes in Rushford, Minnesota, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Rushford is 0.69%, which is lower than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Rushford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rushford estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Rushford's effective property tax rate to other counties in Minnesota and the national median. For comparison, the zip code 55971 has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Rushford provides valuable insights into the varying tax landscape across Winona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rushford Tax Rate
0.69%
Average Winona County Tax Rate
0.91%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rushford, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55971 | 0.31% | 0.47% | 0.69% | 0.76% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Rushford, Minnesota
In Rushford, Minnesota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Winona County Appraisal District for tax purposes. In contrast, the assessed value 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. In Rushford, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For example, in Rushford, the median home price is $347,400, and the tax bills vary significantly. The 25th percentile tax bill is $1,374, while the 75th percentile tax bill is $3,599. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Rushford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rushford Assessed Value
$347,400
Average Winona County Assessed Value
$212,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rushford, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55971 | $124,400 | $215,700 | $347,400 | $669,150 | $1,358,600 |
Source: Ownwell
Property Tax Bills Across Rushford, Minnesota
In Rushford, located in Winona County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. For example, with a median home price of $347,400, homeowners can expect varying tax bills depending on their specific property value and the applicable tax rate. Factors influencing the tax bill include the property's location, its assessed value, and any applicable exemptions or deductions. In Rushford, tax bills can range significantly. Homeowners in the 25th percentile pay around $1,374 annually, while those in the 75th percentile face bills of approximately $3,599. The 90th percentile sees even higher bills, reaching up to $4,970. Understanding these factors is crucial for homeowners as property taxes directly impact their annual expenses. Compared to the national median property tax rate of 0.99%, Rushford's property tax situation illustrates the importance of local assessments and rates in determining individual tax burdens.
Average Rushford Tax Bill
$2,310
Average Winona County Tax Bill
$1,884
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Rushford, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55971 | $440 | $1,374 | $2,310 | $3,599 | $4,970 |
Source: Ownwell