Rushford, Minnesota Property Taxes
The median property tax rate in Rushford, MN is 0.67%, notably lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With a median home value of $355,600 in Rushford, the typical annual property tax bill amounts to $2,192, 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 exemptions like those for primary residences and agricultural properties. 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 Houston 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
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
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, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Rushford is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Rushford set these rates annually, and they can vary 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 areas in Minnesota and the national median. For comparison, the zip code 55971 has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these figures compare with Rushford provides valuable insights into the varying tax landscape across Houston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rushford Tax Rate
0.67%
Average Houston County Tax Rate
1.20%
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 | 0.34% | 0.42% | 0.67% | 0.92% | 1.02% |
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 Houston 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. 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. The zip code with the highest and lowest median tax bill in Rushford is 55971, with a median tax bill of $2,192.
Average Rushford Assessed Value
$355,600
Average Houston County Assessed Value
$221,200
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 | $111,660 | $203,800 | $355,600 | $565,700 | $722,160 |
Source: Ownwell
Property Tax Bills Across Rushford, Minnesota
In Rushford, located in Houston County, MN, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Rushford stands at $355,600. Property taxes are calculated by multiplying the assessed value of the property by the local tax rate. Various factors influence the assessed value, including the property's size, location, and condition, as well as recent sales of comparable properties in the area. Homeowners in Rushford experience a range of tax bills. For example, the 25th percentile tax bill is $1,288, while the 75th percentile tax bill is $2,902, and those in the 90th percentile face a tax bill of $4,102. The highest and lowest median tax bills in the area are both $2,192. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Rushford Tax Bill
$2,192
Average Houston County Tax Bill
$2,534
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 | $724 | $1,288 | $2,192 | $2,902 | $4,102 |
Source: Ownwell