Twin Valley, Clay County, Minnesota Property Taxes

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

Median Twin Valley, MN effective property tax rate: 0.54%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Twin Valley, MN home value: $771,700
Median annual Twin Valley, MN tax bill: $3,504, $1,104 higher than the national median property tax bill of $2,400.

How are property taxes in Clay County calculated?

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

Last Updated March 1, 2025

Twin Valley, Clay County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.54%

Estimate Property Tax Bill

$4,167

$3,867

Ownwell’s Twin Valley Property Tax Bill Calculator provides a simple and efficient way for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Twin Valley using just two data points. By inputting your property's estimated assessed value, our calculator utilizes Twin Valley’s median effective tax rate to deliver an accurate estimate of your property tax bill. Your property's assessed value, determined by Clay County, incorporates any exemptions you might qualify for, ensuring a precise calculation of your property tax obligations. This valuable tool not only helps you understand potential tax liabilities but also demonstrates how Ownwell can assist in reducing property taxes in Clay County. For those seeking more detailed, localized information, we invite you to scroll down and explore city-level trends!

Property Tax Rates Across Twin Valley, Clay County, Minnesota

Local government entities set tax rates, which can vary widely within a state. 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, compare Twin Valley’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S. Twin Valley, located in Clay County, has a median property tax rate of 0.54%, which is significantly lower than the national median of 1.02%. This means that residents of Twin Valley typically pay less in property taxes compared to the average American homeowner. The lower tax rate can be attributed to the county's budgetary needs and the overall value of taxable properties in the area. This relatively low tax burden can make Twin Valley an attractive place for property owners looking to reduce their annual expenses.

Property Tax Rates Across Twin Valley, Clay County, Minnesota

Source: Ownwell

0.45%

0.94%

1.42%

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 Twin Valley Tax Rate

0.54%

Median Effective Clay County Tax Rate

1.36%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Twin Valley, Clay County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56584	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Twin Valley, Clay County, Minnesota

When examining property taxes in Twin Valley, 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 Clay 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 Clay 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 Twin Valley. For example, the median home price in Twin Valley is $771,700, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Twin Valley, Clay County, Minnesota

Source: Ownwell

$124,300

$272,925

$421,550

Median Twin Valley Market Value

$771,700

Median Clay County Market Value

$240,800

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Twin Valley, Clay County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56584	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Twin Valley, Clay County, Minnesota

In Twin Valley, Clay County, MN, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. With a median home price of $771,700, property taxes can be a significant expense for homeowners. The tax bill for the 25th percentile is $3,100, while the 75th percentile sees a tax bill of $4,182, and the 90th percentile reaches $4,331. These figures highlight the potential financial burden compared to the national median property tax bill of $2,400. Factors influencing the tax bill include changes in assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Twin Valley may find their property taxes higher than the national median rate of 1.02%. Ownwell offers expert services to help homeowners appeal their property tax assessments and identify potential exemptions, potentially reducing their tax bills and providing significant savings.

Property Tax Bills Across Twin Valley, Clay County, Minnesota

Source: Ownwell

$1,116

$2,180

$3,244

Median Twin Valley Tax Bill

$3,504

Median Clay County Tax Bill

$3,042

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Twin Valley, Clay County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56584	N/A	N/A	N/A	N/A	N/A

Source: Ownwell