Oronoco, Olmsted County, Minnesota Property Taxes

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

Median Oronoco, MN effective property tax rate: 1.16%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Oronoco, MN home value: $325,350
Median annual Oronoco, MN tax bill: $3,954, $1,554 higher than the national median property tax bill of $2,400.

How are property taxes in Olmsted County calculated?

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

Last Updated March 1, 2025

Oronoco, Olmsted County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.16%

Estimate Property Tax Bill

$3,774

$3,502

Ownwell’s Oronoco Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Oronoco with just two data points.

By entering your property's estimated assessed value, our calculator applies Oronoco’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 Olmsted County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Oronoco, Olmsted County, Minnesota

Local government entities set tax rates, which can vary widely within a state. 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 Oronoco’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.

Property Tax Rates Across Oronoco, Olmsted County, Minnesota

Source: Ownwell

0.82%

1.23%

1.64%

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 Oronoco Tax Rate

1.16%

Median Effective Olmsted County Tax Rate

1.24%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Oronoco, Olmsted County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55960	0.88%	0.98%	1.16%	1.32%	1.43%

Source: Ownwell

Property Tax Assessment Values Across Oronoco, Olmsted County, Minnesota

When examining property taxes in Oronoco, 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 Olmsted 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. In Olmsted 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 Oronoco. For example, the median home price in Oronoco is $325,350, with tax bills ranging significantly across the county. ZIP code 55960 has the highest median home price at $325,350.

Property Tax Assessment Values Across Oronoco, Olmsted County, Minnesota

Source: Ownwell

$207,000

$328,050

$449,100

Median Oronoco Market Value

$325,350

Median Olmsted County Market Value

$264,500

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Oronoco, Olmsted County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55960	$46,740	$143,625	$325,350	$486,425	$595,130

Source: Ownwell

Property Tax Bills Across Oronoco, Olmsted County, Minnesota

In Oronoco, located in Olmsted County, MN, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in the area is $325,350, influencing the assessed value used to calculate the tax bill. Property tax bills can vary significantly, with the 25th percentile at $2,028 and the 75th percentile reaching $5,828. The 90th percentile tax bill climbs to $7,345, highlighting the range homeowners might encounter. The median property tax bill in the region is $3,954, which is above the national median of $2,400, indicating a higher tax burden for local homeowners.

Several factors affect property tax bills, including changes in property values and local government budgets. For homeowners feeling the pinch of these higher taxes, Ownwell offers a solution. By providing expert property tax appeal and exemption services, Ownwell helps homeowners in Oronoco potentially reduce their tax bills, ensuring they only pay what is fair and equitable. This service can lead to significant savings, easing the financial burden on property owners.

Property Tax Bills Across Oronoco, Olmsted County, Minnesota

Source: Ownwell

$2,107

$3,309

$4,511

Median Oronoco Tax Bill

$3,954

Median Olmsted County Tax Bill

$3,296

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Oronoco, Olmsted County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55960	$494	$2,028	$3,954	$5,828	$7,345

Source: Ownwell