Good Thunder, Blue Earth County, Minnesota Property Taxes

Name: Property Tax Bills Across Good Thunder, Blue Earth County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Good Thunder, MN effective property tax rate: 0.81%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Good Thunder, MN home value: $287,100
Median annual Good Thunder, MN tax bill: $2,690, $290 higher than the national median property tax bill of $2,400.

How are property taxes in Blue Earth calculated?

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

Last Updated March 1, 2025

Good Thunder, Blue Earth County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.81%

Estimate Property Tax Bill

$2,326

$2,158

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

Property Tax Rates Across Good Thunder, Blue Earth County, Minnesota

Local government entities are responsible for setting property tax rates, which can differ significantly within a state. Each year, counties determine their necessary budget to fund services and then divide that amount by the total assessed value of all taxable property in their jurisdiction. This process results in the property tax rate. While votes and legislation play roles in establishing these rates and budgets, this is the fundamental annual procedure.

In Good Thunder, located in Blue Earth County, the effective property tax rate is reflective of local fiscal needs and the assessed property values. Compared to other areas within Minnesota and the national median, Good Thunder's rate offers a unique perspective on local taxation. With the national median property tax rate standing at 1.02%, Good Thunder's rate provides insight into how local governance and property values influence tax obligations. By understanding these dynamics, property owners can better navigate their financial responsibilities and explore opportunities for tax appeals or exemptions.

Property Tax Rates Across Good Thunder, Blue Earth County, Minnesota

Source: Ownwell

0.50%

1.03%

1.57%

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 Good Thunder Tax Rate

0.81%

Median Effective Blue Earth County Tax Rate

1.06%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Good Thunder, Blue Earth County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56037	0.39%	0.72%	0.81%	1.48%	1.61%

Source: Ownwell

Property Tax Assessment Values Across Good Thunder, Blue Earth County, Minnesota

When examining property taxes in Good Thunder, 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 Blue Earth 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.

In Blue Earth 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 Good Thunder.

For example, the median home price in Good Thunder is $287,100, with tax bills ranging significantly across the county. Zip code 56037 has the highest median home price at $287,100.

Property Tax Assessment Values Across Good Thunder, Blue Earth County, Minnesota

Source: Ownwell

$179,100

$305,500

$431,900

Median Good Thunder Market Value

$287,100

Median Blue Earth County Market Value

$262,300

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Good Thunder, Blue Earth County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56037	$118,780	$188,200	$287,100	$443,400	$686,020

Source: Ownwell

Property Tax Bills Across Good Thunder, Blue Earth County, Minnesota

In Good Thunder, located in Blue Earth County, MN, property tax bills are calculated based on the assessed value of a home. The local tax rate is then applied to this assessed value to determine the total tax bill. Homeowners in Good Thunder experience a range of property tax bills, with the 25th percentile at $1,940 and the 75th percentile reaching $3,579. The 90th percentile tax bill climbs to $4,356, reflecting the variance in property values and tax rates within the area. This range demonstrates how property taxes can significantly impact homeowners, as they may pay more or less depending on their property's assessed value and the local tax rate. The median property tax bill in Good Thunder stands at $2,690, which is above the national median of $2,400. Homeowners can benefit from Ownwell's expertise in property tax appeals and exemptions, potentially lowering their tax burden. By leveraging specialized knowledge, Ownwell helps ensure that homeowners pay only their fair share, providing significant savings on property tax bills.

Property Tax Bills Across Good Thunder, Blue Earth County, Minnesota

Source: Ownwell

$1,759

$2,726

$3,692

Median Good Thunder Tax Bill

$2,690

Median Blue Earth County Tax Bill

$2,724

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Good Thunder, Blue Earth County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56037	$1,275	$1,940	$2,690	$3,579	$4,356

Source: Ownwell