Redwood Falls, Redwood County, Minnesota Property Taxes

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

Median Redwood Falls, MN effective property tax rate: 1.12%, slightly higher than the national median of 1.02%, but marginally higher than the Minnesota state median of 1.11%.
Median Redwood Falls, MN home value: $144,400
Median annual Redwood Falls, MN tax bill: $1,428, $972 lower than the national median property tax bill of $2,400.

How are property taxes in Redwood County calculated?

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

Last Updated March 1, 2025

Redwood Falls, Redwood County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.12%

Estimate Property Tax Bill

$1,617

$1,501

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

Property Tax Rates Across Redwood Falls, Redwood County, Minnesota

Local government entities set tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget to provide services and dividing that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell. In Redwood Falls, located in Redwood County, Minnesota, the effective property tax rate stands at 1.12%. This rate is slightly above the national median property tax rate of 1.02%. Compared to other cities in Minnesota, Redwood Falls' tax rate aligns with the state's median, indicating a consistent approach within the region. The property tax bill in Redwood Falls might be higher than the national median property tax bill of $2,400, reflecting the local government's budgetary needs and the total value of taxable properties. Understanding these rates can provide valuable insights into the fiscal landscape of the area and help homeowners make informed decisions about property investments.

Property Tax Rates Across Redwood Falls, Redwood County, Minnesota

Source: Ownwell

0.66%

1.24%

1.83%

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 Redwood Falls Tax Rate

1.12%

Median Effective Redwood County Tax Rate

1.19%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Redwood Falls, Redwood County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56283	0.64%	0.93%	1.12%	1.28%	1.43%

Source: Ownwell

Property Tax Assessment Values Across Redwood Falls, Redwood County, Minnesota

When examining property taxes in Redwood Falls, 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 Redwood 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 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 Redwood Falls. For example, the median home price in Redwood Falls is $144,400, with tax bills ranging significantly across the county. Zip code 56283 has the highest median home price at $144,400.

Property Tax Assessment Values Across Redwood Falls, Redwood County, Minnesota

Source: Ownwell

$46,650

$175,025

$303,400

Median Redwood Falls Market Value

$144,400

Median Redwood County Market Value

$117,650

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Redwood Falls, Redwood County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56283	$31,080	$84,775	$144,400	$226,500	$344,860

Source: Ownwell

Property Tax Bills Across Redwood Falls, Redwood County, Minnesota

In Redwood Falls, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The median home price in Redwood Falls is $144,400, and the property tax rate is applied to this assessed value to calculate the tax bill. Homeowners in Redwood Falls can expect a median tax bill of $1,428, which aligns with the highest and lowest tax bills in the area, both reported in the 56283 zip code. This figure is notably lower than the national median property tax bill of $2,400, offering some relief to local homeowners. However, property taxes can still be a significant expense, especially for those at the higher end of the spectrum, with the 90th percentile tax bill reaching $3,473. Ownwell assists homeowners by identifying potential savings through appealing assessed values and securing exemptions. By leveraging Ownwell's expertise, homeowners in Redwood Falls can potentially reduce their property tax burden, ensuring they pay only their fair share.

Property Tax Bills Across Redwood Falls, Redwood County, Minnesota

Source: Ownwell

$786

$1,464

$2,142

Median Redwood Falls Tax Bill

$1,428

Median Redwood County Tax Bill

$1,276

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Redwood Falls, Redwood County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56283	$305	$810	$1,428	$2,446	$3,473

Source: Ownwell