Rochester, Olmsted County, Minnesota Property Taxes
Median Rochester, MN effective property tax rate: 1.23%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%. Median Rochester, MN home value: $266,500. Median annual Rochester, MN tax bill: $3,234, $834 higher than the national median property tax bill of $2,400.
How are property taxes in Olmsted calculated?
Property taxes in Rochester, 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 Rochester’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rochester, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Rochester, Olmsted County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.23%
Estimate Property Tax Bill
$3,278
$3,042
Property Tax Rates Across Rochester, 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 Rochester’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S. Rochester, located in Olmsted County, has a median property tax rate of 1.23%, which is above the national median of 1.02%. In comparison, the highest median tax rate in the area is 1.26% in the 55902 zip code, while the lowest is 1.19% in the 55904 zip code. This variation demonstrates how property tax rates can differ within a region, impacting homeowners' annual tax bills. Understanding these differences can be crucial for property owners when considering tax appeal or exemption services.
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 Rochester Tax Rate
1.23%
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 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 Rochester, Olmsted County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55901 | 1.11% | 1.19% | 1.23% | 1.27% | 1.27% |
| 55902 | 1.11% | 1.20% | 1.26% | 1.27% | 1.33% |
| 55904 | 0.92% | 1.11% | 1.19% | 1.26% | 1.27% |
| 55906 | 0.99% | 1.17% | 1.24% | 1.27% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Rochester, Olmsted County, Minnesota
When examining property taxes in Rochester, 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 Rochester. For example, the median home price in Rochester is $266,500, with tax bills ranging significantly across the county. Zip code 55902 has the highest median home price at $358,300.
Property Tax Assessment Values Across Rochester, Olmsted County, Minnesota
Source: Ownwell
$207,000
$328,050
$449,100
Median Rochester Market Value
$266,500
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 Rochester, Olmsted County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55901 | $152,900 | $218,200 | $262,700 | $333,900 | $424,920 |
| 55902 | $185,300 | $245,300 | $358,300 | $507,325 | $700,320 |
| 55904 | $108,460 | $171,100 | $221,500 | $279,300 | $394,150 |
| 55906 | $138,940 | $210,000 | $296,700 | $439,200 | $560,260 |
Source: Ownwell
Property Tax Bills Across Rochester, Olmsted County, Minnesota
Median Rochester Tax Bill
$3,234
Median Olmsted County Tax Bill
$3,296
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Rochester, Olmsted County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55901 | $1,792 | $2,620 | $3,214 | $4,178 | $5,282 |
| 55902 | $2,154 | $2,967 | $4,470 | $6,338 | $9,100 |
| 55904 | $1,239 | $1,946 | $2,584 | $3,264 | $4,338 |
| 55906 | $1,602 | $2,504 | $3,590 | $5,322 | $6,954 |
Source: Ownwell