Mcleod County Property Taxes
The median property tax rate in McLeod County is 1.47%, which is significantly higher than both the national median of 0.99% and Minnesota's state median of 1.11%. With the median home value in McLeod County, the typical annual property tax bill reaches $460, which is substantially lower than the national median of $2,690. Property taxes in McLeod County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding McLeod 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 Hutchinson or another part of McLeod County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mcleod County 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 McLeod County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in McLeod County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in McLeod 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 Mcleod County, Minnesota
Property taxes in McLeod County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in McLeod County is 1.47%, which is higher than the U.S. national median of 0.99%. Local government entities within McLeod County set these rates annually, and they can vary significantly between different areas within the county. Each year, McLeod 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. For comparison, the city of Stewart has one of the higher property tax rates in Minnesota at 2.48%, while the city of Silver Lake boasts one of the lowest at 0.94%. Analyzing how McLeod County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mcleod County Tax Rate
1.47%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mcleod County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brownton | 0.75% | 0.80% | 0.97% | 2.43% | 2.74% |
| Glencoe | 0.83% | 1.15% | 1.50% | 1.82% | 1.83% |
| Hutchinson | 0.89% | 1.07% | 1.49% | 1.84% | 2.08% |
| Lester Prairie | 0.86% | 0.97% | 1.29% | 1.86% | 2.25% |
| Plato | 0.97% | 1.08% | 1.16% | 1.34% | 1.47% |
| Silver Lake | 0.73% | 0.80% | 0.94% | 1.80% | 2.09% |
| Stewart | 1.11% | 2.05% | 2.48% | 5.73% | 9.49% |
| Winsted | 1.27% | 1.29% | 1.31% | 1.84% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Mcleod County, Minnesota
In McLeod 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 McLeod 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 McLeod 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. Being aware of these valuation processes in McLeod County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In McLeod County, Brownton has the highest median tax bill at $554, while Winsted has the lowest at $172.
Average Mcleod County Assessed Value
$25,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mcleod County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brownton | $6,100 | $10,800 | $35,200 | $106,875 | $185,600 |
| Glencoe | $2,370 | $20,900 | $34,400 | $49,075 | $89,460 |
| Hutchinson | $1,460 | $10,600 | $25,600 | $49,700 | $97,780 |
| Lester Prairie | $4,400 | $11,900 | $24,300 | $50,450 | $126,440 |
| Plato | $2,120 | $4,900 | $16,800 | $41,750 | $54,680 |
| Silver Lake | $1,320 | $18,375 | $43,800 | $62,475 | $109,500 |
| Stewart | $4,220 | $5,850 | $11,000 | $20,000 | $95,790 |
| Winsted | $8,630 | $9,600 | $12,700 | $20,975 | $53,870 |
Source: Ownwell
Property Tax Bills Across Mcleod County, Minnesota
In McLeod County, MN, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in McLeod County stands at $25,200, significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property location, size, and any applicable exemptions. The tax burden can vary widely; for example, the 25th percentile tax bill is $232, while the 75th percentile is $682, and the 90th percentile reaches $1,261. Homeowners in Brownton face the highest median tax bill at $554, while those in Winsted enjoy the lowest at $172. These variations can significantly impact homeowners' finances, making property tax considerations crucial when purchasing or owning property in McLeod County.
Average Mcleod County Tax Bill
$460
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Mcleod County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brownton | $59 | $249 | $554 | $1,009 | $1,934 |
| Glencoe | $322 | $380 | $512 | $656 | $1,033 |
| Hutchinson | $72 | $310 | $484 | $706 | $1,447 |
| Lester Prairie | $49 | $186 | $490 | $682 | $1,748 |
| Plato | $20 | $58 | $236 | $483 | $743 |
| Silver Lake | $53 | $346 | $421 | $592 | $861 |
| Stewart | $153 | $270 | $499 | $1,451 | $2,060 |
| Winsted | $116 | $126 | $172 | $290 | $805 |
Source: Ownwell