Murray County Property Taxes
The median property tax rate in Murray County is 0.81%, which is lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Murray County at $177,200, the typical annual property tax bill is $1,236, considerably less than the national median of $2,690. Property taxes in Murray County are calculated based on the tax assessed value, often lower than the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Murray 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 Slayton or another part of Murray County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Murray County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,435
Ownwell’s Murray County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Murray County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Murray County to estimate your property tax bill. This insightful tool 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’s 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 Murray County, Minnesota
Property taxes in Murray County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Murray County is 0.81%, which is lower than the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Murray County set these rates annually, and they can vary significantly between different areas within the county. Each year, Murray 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. The following data compares Murray County's effective property tax rate with other counties in Minnesota and the national median. For comparison, the city of Fulda has one of the higher property tax rates in the state at 1.06%, while the city of Dundee boasts one of the lowest at 0.40%. Analyzing how Murray County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Murray County Tax Rate
0.81%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
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 | 0.26% | 0.26% | 0.26% | 0.26% | 0.26% |
| Woodstock | 0.12% | 0.13% | 0.20% | 0.40% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Murray County, Minnesota
In Murray 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 Murray 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 Murray 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. Tracy has the highest median tax bill at $2,159, while Dovray has the lowest at $325. Being aware of these valuation processes in Murray County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Murray County, Minnesota
Source: Ownwell
$43,050
$335,275
$627,500
Average Murray County Assessed Value
$177,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
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 | $321,900 | $321,900 | $321,900 | $321,900 | $321,900 |
| 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, MN, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is an estimate of your property's market value determined by the county assessor. This value is then multiplied by the local tax rate to calculate your annual property tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. Homeowners in Murray County experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $602, while the 75th percentile sees bills around $2,294. At the higher end, the 90th percentile tax bill reaches $3,494. The city of Tracy has the highest median tax bill at $2,159, whereas Dovray has the lowest at $325. Compared to the national median property tax rate of 0.99%, Murray County’s property taxes can vary significantly, impacting homeowners differently depending on their property’s assessed value and location within the county.
Average Murray County Tax Bill
$1,236
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
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 | $844 | $844 | $844 | $844 | $844 |
| Woodstock | $386 | $577 | $1,365 | $2,462 | $3,510 |
Source: Ownwell