Marshall, Lyon County, Minnesota Property Taxes

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

Median Marshall, MN effective property tax rate: 1.18%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Marshall, MN home value: $193,700
Median annual Marshall, MN tax bill: $2,194, $206 lower than the national median property tax bill of $2,400.

How are property taxes in Lyon County calculated?

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

Last Updated March 1, 2025

Marshall, Lyon County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.18%

Estimate Property Tax Bill

$2,286

$2,121

Ownwell’s Marshall Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Marshall with just two data points. By entering your property's estimated assessed value, our calculator applies Marshall’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your 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 Lyon County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Marshall, Lyon County, Minnesota

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results 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. Below, you can compare Marshall’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S. Marshall, located in Lyon County, holds a median property tax rate of 1.18%, which is notably above the national median of 1.02%. This places Marshall on the higher end compared to the national average, reflecting the county's budgetary needs and property values. The uniformity in tax rates across the city, with the highest and lowest median rates both at 1.18%, indicates a consistent approach to property tax assessments. Understanding these figures can help property owners in Marshall make informed decisions about their tax obligations and potential savings through appeals or exemptions.

Property Tax Rates Across Marshall, Lyon County, Minnesota

Source: Ownwell

0.60%

1.12%

1.65%

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 Marshall Tax Rate

1.18%

Median Effective Lyon County Tax Rate

1.21%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Marshall, Lyon County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56258	0.72%	1.08%	1.18%	1.29%	1.45%

Source: Ownwell

Property Tax Assessment Values Across Marshall, Lyon County, Minnesota

When examining property taxes in Marshall, 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 Lyon County Assessor's Office 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 Lyon 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 Marshall.

For example, the median home price in Marshall is $193,700, with tax bills ranging significantly across the county. Zip code 56258 has the highest median home price at $193,700.

Property Tax Assessment Values Across Marshall, Lyon County, Minnesota

Source: Ownwell

$50,100

$158,650

$267,200

Median Marshall Market Value

$193,700

Median Lyon County Market Value

$158,500

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Marshall, Lyon County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56258	$63,700	$125,300	$193,700	$267,550	$353,420

Source: Ownwell

Property Tax Bills Across Marshall, Lyon County, Minnesota

In Marshall, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Marshall, the median home price is $193,700, and the property tax bills range significantly, with the 25th percentile at $1,394 and the 75th percentile reaching $3,018. The highest median tax bill in the area is $2,194, which is slightly below the national median of $2,400. This variation affects homeowners differently, with some paying more than the national average and others less. Ownwell is here to help homeowners in Marshall potentially reduce their property tax bills. By providing expert property tax appeal and exemption services, Ownwell can assist homeowners in ensuring their properties are fairly assessed, potentially lowering their tax burden and resulting in significant savings.

Property Tax Bills Across Marshall, Lyon County, Minnesota

Source: Ownwell

$522

$1,358

$2,194

Median Marshall Tax Bill

$2,194

Median Lyon County Tax Bill

$1,794

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Marshall, Lyon County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56258	$654	$1,394	$2,194	$3,018	$4,004

Source: Ownwell