Albert Lea, Freeborn County, Minnesota Property Taxes

Name: Property Tax Bills Across Albert Lea, Freeborn County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Albert Lea, MN effective property tax rate: 1.33%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Albert Lea, MN home value: $124,000
Median annual Albert Lea, MN tax bill: $1,654, $746 lower than the national median property tax bill of $2,400.

How are property taxes in Freeborn County calculated?

Property taxes in Albert Lea, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Albert Lea’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Albert Lea, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Albert Lea, Freeborn County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.33%

Estimate Property Tax Bill

$1,649

$1,530

Ownwell’s Albert Lea Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Albert Lea with just two data points. By entering your property's estimated assessed value, our calculator applies Albert Lea’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Freeborn County — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Freeborn County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Albert Lea, Freeborn County, Minnesota

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. In Albert Lea, located in Freeborn County, MN, the effective property tax rate stands at 1.33%, aligning with the highest and lowest rates within the area. This rate is notably higher than the national median property tax rate of 1.02%, illustrating the variance in tax burdens across different regions. The median property tax bill in this area can significantly impact homeowners, especially when compared to the national median bill of $2,400. Understanding these rates is crucial for property owners looking to manage their expenses effectively. By comparing Albert Lea’s effective property tax rate to other cities in Minnesota and the median property tax rates nationally, residents can gain insight into how their local tax obligations measure up.

Property Tax Rates Across Albert Lea, Freeborn County, Minnesota

Source: Ownwell

0.81%

1.76%

2.72%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Albert Lea Tax Rate

1.33%

Median Effective Freeborn County Tax Rate

1.25%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Albert Lea, Freeborn County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56007	0.94%	1.10%	1.33%	1.51%	1.83%

Source: Ownwell

Property Tax Assessment Values Across Albert Lea, Freeborn County, Minnesota

When examining property taxes in Albert Lea, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Freeborn County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Freeborn County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Albert Lea. For example, the median home price in Albert Lea is $124,000, with tax bills ranging significantly across the county. 56007 has the highest median home price at $124,000.

Property Tax Assessment Values Across Albert Lea, Freeborn County, Minnesota

Source: Ownwell

$40,750

$174,725

$308,700

Median Albert Lea Market Value

$124,000

Median Freeborn County Market Value

$133,500

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Albert Lea, Freeborn County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56007	$34,100	$74,550	$124,000	$208,400	$325,760

Source: Ownwell

Property Tax Bills Across Albert Lea, Freeborn County, Minnesota

In Albert Lea, located in Freeborn County, MN, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in this area is $124,000, and the property tax bill can vary significantly based on the property's assessed value and applicable exemptions. The median property tax bill in Albert Lea is $1,654, which is below the national median of $2,400. However, depending on specific circumstances, tax bills can range from the 25th percentile at $914 to the 90th percentile at $4,118. These variations can impact homeowners' financial planning, making it crucial to understand how assessments and exemptions influence their tax obligations. Ownwell offers expert property tax appeal and exemption services that help homeowners potentially lower their tax bills. By evaluating your property's assessed value and ensuring all eligible exemptions are applied, Ownwell can assist in reducing the financial burden of property taxes, providing significant savings and peace of mind.

Property Tax Bills Across Albert Lea, Freeborn County, Minnesota

Source: Ownwell

$527

$1,745

$2,962

Median Albert Lea Tax Bill

$1,654

Median Freeborn County Tax Bill

$1,666

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Albert Lea, Freeborn County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56007	$388	$914	$1,654	$2,776	$4,118

Source: Ownwell