Fulda, Murray County, Minnesota Property Taxes

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

Median Fulda, MN effective property tax rate: 1.06%, slightly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Fulda, MN home value: $161,800
Median annual Fulda, MN tax bill: $1,592, $808 lower than the national median property tax bill of $2,400.

How are property taxes in Murray County calculated?

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

Last Updated March 1, 2025

Fulda, Murray County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.06%

Estimate Property Tax Bill

$1,715

$1,592

Ownwell’s Fulda Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fulda with just two data points. By entering your property's estimated assessed value, our calculator applies Fulda’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 Murray County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Fulda, Murray County, Minnesota

Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting 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. In Fulda, located in Murray County, Minnesota, the effective property tax rate stands at 1.06%. This rate is slightly above the national median property tax rate of 1.02%, indicating a marginally higher tax burden for property owners in Fulda compared to the national average. However, it aligns with the median property tax rate for Minnesota, which is also 1.06%. This consistency within the state reflects a balanced approach to property taxation, ensuring that Fulda's residents contribute fairly to the local budget while still maintaining a competitive edge compared to other regions in the country.

Property Tax Rates Across Fulda, Murray County, Minnesota

Source: Ownwell

0.20%

0.63%

1.06%

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 Fulda Tax Rate

1.06%

Median Effective Murray County Tax Rate

0.81%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Fulda, Murray County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56131	0.40%	0.92%	1.06%	1.19%	1.25%

Source: Ownwell

Property Tax Assessment Values Across Fulda, Murray County, Minnesota

When examining property taxes in Fulda, 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 Murray County Appraisal District 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 Fulda. For example, the median home price in Fulda is $161,800, with tax bills ranging significantly across the county. 56131 has the highest median home price at $161,800.

Property Tax Assessment Values Across Fulda, Murray County, Minnesota

Source: Ownwell

$43,050

$335,275

$627,500

Median Fulda Market Value

$161,800

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 Fulda, Murray County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56131	$48,340	$91,950	$161,800	$259,150	$439,180

Source: Ownwell

Property Tax Bills Across Fulda, Murray County, Minnesota

In Fulda, located in Murray County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by county assessors. The median home price in this area is $161,800. Property tax rates in Fulda are applied to this assessed value, resulting in a median property tax bill of $1,592. This is significantly lower than the national median property tax bill of $2,400. Homeowners might see variations in their tax bills, with the 25th percentile paying around $864, and the 75th percentile paying approximately $2,458. Factors influencing these variations include changes in property values and local tax rates. For homeowners seeking to minimize their tax burden, Ownwell offers services to appeal property tax assessments and secure exemptions. By leveraging expertise in local tax regulations, Ownwell assists homeowners in ensuring their property is accurately assessed, potentially reducing their tax bills and leading to considerable savings.

Property Tax Bills Across Fulda, Murray County, Minnesota

Source: Ownwell

$325

$1,242

$2,159

Median Fulda Tax Bill

$1,592

Median Murray County Tax Bill

$1,236

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Fulda, Murray County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56131	$482	$864	$1,592	$2,458	$3,755

Source: Ownwell