Rollingstone, Minnesota Property Taxes
The median property tax rate in Rollingstone, MN is 0.82%, 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 Rollingstone at $240,900, the typical annual property tax bill is $1,920, falling below the national median of $2,690. Property taxes in Rollingstone are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Rollingstone's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Rollingstone or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rollingstone, Minnesota Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,220
Ownwell’s Rollingstone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rollingstone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rollingstone to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Rollingstone, Minnesota
Property taxes in Rollingstone, Minnesota, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Rollingstone is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Rollingstone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rollingstone estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Rollingstone's effective property tax rate to other areas in Minnesota and the national median. For comparison, the zip code 55969 has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Rollingstone provides valuable insights into the varying tax landscape across Winona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rollingstone Tax Rate
0.82%
Average Winona County Tax Rate
0.91%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rollingstone, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55969 | 0.54% | 0.68% | 0.82% | 0.89% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Rollingstone, Minnesota
In Rollingstone, Minnesota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Winona County Appraisal District for tax purposes. In contrast, the assessed value 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. In Rollingstone, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in Rollingstone is $240,900, with tax bills ranging from $1,436 at the 25th percentile to $3,242 at the 90th percentile. The zip code 55969 has both the highest and lowest median tax bill at $1,920. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Rollingstone helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Rollingstone, Minnesota
Source: Ownwell
$121,500
$278,600
$435,700
Average Rollingstone Assessed Value
$240,900
Average Winona County Assessed Value
$212,200
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rollingstone, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55969 | $130,880 | $188,200 | $240,900 | $333,300 | $438,940 |
Source: Ownwell
Property Tax Bills Across Rollingstone, Minnesota
In Rollingstone, property tax bills are calculated based on the assessed value of your home and the local tax rate set by Winona County. The assessed value is determined by the county assessor, who evaluates your property to estimate its market value. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. Several factors influence the assessed value, including the property's size, age, location, and any improvements made. In Rollingstone, the median home price stands at $240,900. Homeowners in this area can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $1,436, while at the 75th percentile, it reaches approximately $2,482. At the 90th percentile, it can go up to $3,242. With a national median property tax rate of 0.99%, Rollingstone homeowners need to plan for these variations, as property taxes can significantly impact their annual budget. Understanding how these factors interplay can help homeowners better prepare for their property tax obligations.
Average Rollingstone Tax Bill
$1,920
Average Winona County Tax Bill
$1,884
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Rollingstone, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55969 | $864 | $1,436 | $1,920 | $2,482 | $3,242 |
Source: Ownwell