Montevideo, Chippewa County, Minnesota Property Taxes

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

Median Montevideo, MN effective property tax rate: 1.13%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Montevideo, MN home value: $144,500
Median annual Montevideo, MN tax bill: $1,551, $849 lower than the national median property tax bill of $2,400.

How are property taxes in Chippewa County calculated?

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

Last Updated March 1, 2025

Montevideo, Chippewa County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.13%

Estimate Property Tax Bill

$1,633

$1,515

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

Property Tax Rates Across Montevideo, Chippewa County, Minnesota

Local government entities set tax rates, which can vary widely within a state. 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 Montevideo’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S. Montevideo, located in Chippewa County, has a median property tax rate that aligns with the highest rate in the state at 1.13%, which is above the national median of 1.02%. This rate reflects the county's budgetary needs and the value of taxable properties. Understanding these rates is crucial for property owners looking to manage their expenses effectively. Comparing Montevideo's rate to the national median property tax rate of 1.02% highlights the importance of local governance in determining property tax obligations.

Property Tax Rates Across Montevideo, Chippewa County, Minnesota

Source: Ownwell

0.69%

1.27%

1.86%

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 Montevideo Tax Rate

1.13%

Median Effective Chippewa County Tax Rate

1.23%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Montevideo, Chippewa County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56265	0.70%	0.85%	1.13%	1.32%	1.47%

Source: Ownwell

Property Tax Assessment Values Across Montevideo, Chippewa County, Minnesota

When examining property taxes in Montevideo, 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 Chippewa 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 Chippewa 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 Montevideo. For example, the median home price in Montevideo is $144,500, with tax bills ranging significantly across the county. Zip code 56265 has the highest median home price at $144,500.

Property Tax Assessment Values Across Montevideo, Chippewa County, Minnesota

Source: Ownwell

$76,900

$150,475

$224,050

Median Montevideo Market Value

$144,500

Median Chippewa County Market Value

$136,650

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Montevideo, Chippewa County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56265	$53,260	$90,900	$144,500	$227,500	$311,340

Source: Ownwell

Property Tax Bills Across Montevideo, Chippewa County, Minnesota

In Montevideo, located in Chippewa County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This value is then multiplied by the local tax rate to determine the tax bill. Factors such as property size, location, and market conditions can influence the assessed value. Homeowners in Montevideo face a median property tax bill of $1,551, which is below the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $938 and the 90th percentile reaching $3,560. These variations can impact homeowners' financial planning and budgeting.

Ownwell provides a valuable service by helping homeowners appeal their property tax assessments, potentially lowering their tax bills. By analyzing local market conditions and assessment accuracy, Ownwell can identify discrepancies and advocate for fair property valuations. This service not only helps homeowners save money but also ensures they are not overpaying on their property taxes.

Property Tax Bills Across Montevideo, Chippewa County, Minnesota

Source: Ownwell

$891

$1,590

$2,288

Median Montevideo Tax Bill

$1,551

Median Chippewa County Tax Bill

$1,622

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Montevideo, Chippewa County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56265	$585	$938	$1,551	$2,530	$3,560

Source: Ownwell