Murray County, Minnesota Property Taxes
Median Murray County effective property tax rate: 0.81%, significantly lower than the national median of 1.02%.
Median Murray County home value: $177,200
Median annual Murray County tax bill: $1,236, $1,164 lower than the national median property tax bill of $2,400.
How are property taxes in Murray County calculated?
Property taxes in Murray County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Slayton or another part of Murray County, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Murray County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.81%
Estimate Property Tax Bill
$1,435
$1,332
Property Tax Rates Across Murray County, Minnesota
Local government entities are responsible for setting tax rates, which can differ significantly within a state. Each year, counties estimate the budget needed to provide essential services and divide this by the total value of all taxable properties within their jurisdiction. This process yields the property tax rate. Although votes and regulations play a role in determining tax rates and budgets, this is essentially how the annual process unfolds.
In Murray County, Minnesota, the effective property tax rate stands at 0.81%, which is below the national median of 1.02%. Within Minnesota, Fulda has the highest median tax rate of 1.06%, while Dundee boasts the lowest at 0.40%. These figures highlight the diversity of property tax rates within the state. Comparing Murray County's rate to the U.S. median offers valuable insight into how local taxes stack up against national standards. Understanding these variations can help property owners make informed decisions about appeals and exemptions, potentially leading to significant savings.
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 Murray County Tax Rate
0.81%
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 Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Murray County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Avoca | 0.19% | 0.42% | 0.63% | 0.85% | 1.22% |
| Balaton | 0.13% | 0.16% | 0.31% | 0.50% | 0.61% |
| Chandler | 0.11% | 0.21% | 0.70% | 0.94% | 1.10% |
| Currie | 0.21% | 0.48% | 0.80% | 1.29% | 1.83% |
| Dovray | 0.69% | 0.71% | 0.76% | 0.93% | 1.13% |
| Dundee | 0.16% | 0.19% | 0.40% | 0.73% | 0.76% |
| Edgerton | 0.13% | 0.16% | 0.27% | 0.53% | 0.60% |
| Fulda | 0.40% | 0.92% | 1.06% | 1.19% | 1.25% |
| Garvin | 0.36% | 0.50% | 0.70% | 0.88% | 1.11% |
| Hadley | 0.14% | 0.27% | 0.43% | 0.68% | 1.00% |
| Iona | 0.14% | 0.29% | 0.90% | 1.20% | 1.64% |
| Lake Wilson | 0.12% | 0.25% | 0.54% | 0.91% | 1.16% |
| Ruthton | 0.11% | 0.15% | 0.27% | 0.51% | 0.62% |
| Slayton | 0.39% | 0.57% | 0.88% | 1.18% | 1.28% |
| Tracy | 0.32% | 0.55% | 0.75% | 0.95% | 1.29% |
| Walnut Grove | 0.16% | 0.19% | 0.31% | 0.64% | 0.70% |
| Westbrook | 0.14% | 0.19% | 0.28% | 0.53% | 0.70% |
| Wilmont | N/A | N/A | N/A | N/A | N/A |
| Woodstock | 0.12% | 0.13% | 0.20% | 0.40% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Murray County, Minnesota
When examining property taxes in Murray County, 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 Murray 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.
Assessment notices: In Murray 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 Murray County.
For example, the median tax bill in Murray County is $1,372, with tax bills ranging significantly across the county. Edgerton has the highest median home price at $627,500.
Property Tax Assessment Values Across Murray County, Minnesota
Source: Ownwell
$43,050
$335,275
$627,500
Median Murray County Market Value
$177,200
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Murray County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Avoca | $7,700 | $32,175 | $95,000 | $234,925 | $874,750 |
| Balaton | $118,250 | $197,850 | $547,750 | $1,406,225 | $1,940,270 |
| Chandler | $26,180 | $90,650 | $192,900 | $423,950 | $1,274,860 |
| Currie | $9,420 | $50,600 | $159,700 | $302,200 | $847,400 |
| Dovray | $3,000 | $11,900 | $43,050 | $94,625 | $124,090 |
| Dundee | $162,820 | $211,050 | $369,500 | $1,161,950 | $2,146,560 |
| Edgerton | $126,120 | $265,100 | $627,500 | $1,393,300 | $1,872,960 |
| Fulda | $48,340 | $91,950 | $161,800 | $259,150 | $439,180 |
| Garvin | $56,450 | $171,575 | $305,800 | $468,600 | $749,450 |
| Hadley | $36,520 | $98,650 | $240,100 | $450,625 | $1,485,590 |
| Iona | $3,100 | $33,200 | $101,800 | $297,900 | $1,314,020 |
| Lake Wilson | $12,820 | $66,375 | $142,400 | $301,950 | $1,152,410 |
| Ruthton | $155,100 | $199,100 | $374,750 | $1,027,175 | $1,618,700 |
| Slayton | $29,410 | $71,475 | $157,950 | $306,725 | $536,400 |
| Tracy | $53,200 | $158,600 | $277,950 | $487,325 | $710,260 |
| Walnut Grove | $135,000 | $224,750 | $518,100 | $1,351,850 | $2,126,700 |
| Westbrook | $109,840 | $179,000 | $617,700 | $1,428,100 | $1,901,640 |
| Wilmont | N/A | N/A | N/A | N/A | N/A |
| Woodstock | $115,130 | $189,975 | $495,900 | $1,596,150 | $1,875,870 |
Source: Ownwell
Property Tax Bills Across Murray County, Minnesota
In Murray County, Minnesota, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, reflecting the estimated price the property would sell for under current market conditions. Once the assessed value is established, the tax rate, set by local taxing authorities, is applied to calculate the annual tax bill.
Factors influencing the tax bill include the property's location, as different areas may have varying tax rates. For instance, the city of Tracy has the highest median tax bill in the county at $2,159, while Dovray has the lowest at $325. Homeowners in Murray County experience property tax bills that range significantly, with the 25th percentile at $602 and the 90th percentile reaching $3,494. This variation can impact homeowners' financial planning, as property taxes are a significant expense. Compared to the national median property tax rate of 1.02% and a median bill of $2,400, Murray County's tax bills are relatively moderate, providing some relief to homeowners.
Median Murray County Tax Bill
$1,236
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Murray County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Avoca | $60 | $192 | $452 | $1,248 | $2,621 |
| Balaton | $538 | $686 | $1,510 | $2,590 | $3,812 |
| Chandler | $180 | $506 | $952 | $1,577 | $2,314 |
| Currie | $103 | $534 | $1,108 | $2,134 | $3,214 |
| Dovray | $24 | $94 | $325 | $598 | $844 |
| Dundee | $1,013 | $1,247 | $1,934 | $2,406 | $4,132 |
| Edgerton | $677 | $1,110 | $1,846 | $2,774 | $3,469 |
| Fulda | $482 | $864 | $1,592 | $2,458 | $3,755 |
| Garvin | $688 | $1,126 | $2,098 | $3,048 | $4,147 |
| Hadley | $285 | $480 | $967 | $1,828 | $2,997 |
| Iona | $42 | $338 | $698 | $1,453 | $2,717 |
| Lake Wilson | $114 | $334 | $724 | $1,392 | $2,352 |
| Ruthton | $431 | $639 | $1,204 | $2,020 | $3,802 |
| Slayton | $288 | $660 | $1,245 | $2,318 | $3,435 |
| Tracy | $450 | $1,119 | $2,159 | $3,290 | $4,333 |
| Walnut Grove | $784 | $1,329 | $1,788 | $3,605 | $4,780 |
| Westbrook | $626 | $824 | $1,540 | $2,717 | $4,016 |
| Wilmont | N/A | N/A | N/A | N/A | N/A |
| Woodstock | $386 | $577 | $1,365 | $2,462 | $3,510 |
Source: Ownwell