New Ulm, Blue Earth County, Minnesota Property Taxes

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

Median New Ulm, 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 New Ulm, MN home value: $262,250
Median annual New Ulm, MN tax bill: $1,889, $511 lower than the national median property tax bill of $2,400.

How are property taxes in Blue Earth calculated?

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

Last Updated March 1, 2025

New Ulm, 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

$2,124

$1,971

Ownwell’s New Ulm Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in New Ulm with just two data points. By entering your property's estimated assessed value, our calculator applies New Ulm’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 New Ulm, Blue Earth County, Minnesota

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, 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 New Ulm’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 New Ulm, 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 New Ulm 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 New Ulm, Blue Earth County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56073	0.63%	0.73%	0.81%	0.84%	0.85%

Source: Ownwell

Property Tax Assessment Values Across New Ulm, Blue Earth County, Minnesota

When examining property taxes in New Ulm, 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 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 Blue Earth County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 New Ulm.

For example, the median home price in New Ulm is $262,250, with tax bills ranging significantly across the county. ZIP code 56073 has the highest median home price at $262,250.

Property Tax Assessment Values Across New Ulm, Blue Earth County, Minnesota

Source: Ownwell

$179,100

$305,500

$431,900

Median New Ulm Market Value

$262,250

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 New Ulm, Blue Earth County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56073	$83,310	$146,175	$262,250	$419,375	$560,140

Source: Ownwell

Property Tax Bills Across New Ulm, Blue Earth County, Minnesota

In New Ulm, located in Blue Earth County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in this area is $262,250, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $1,092, while the 75th percentile reaches $3,348. The 90th percentile tax bill climbs to $4,383, indicating a wide range of tax obligations depending on the home's assessed value. The median property tax bill in New Ulm is $1,889, which is lower than the national median of $2,400. Homeowners may find this advantageous, but there's still potential for savings. Ownwell can assist homeowners by identifying potential errors in assessments and ensuring they are receiving all applicable exemptions, which can lead to significant reductions in their property tax bills.

Property Tax Bills Across New Ulm, Blue Earth County, Minnesota

Source: Ownwell

$1,759

$2,726

$3,692

Median New Ulm Tax Bill

$1,889

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 New Ulm, Blue Earth County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56073	$545	$1,092	$1,889	$3,348	$4,383

Source: Ownwell