Fulda, Cottonwood County, Minnesota Property Taxes
Median Fulda, MN effective property tax rate: 0.65%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Fulda, MN home value: $375,000
Median annual Fulda, MN tax bill: $2,685, $285 higher than the national median property tax bill of $2,400.
How are property taxes in Cottonwood calculated?
Property taxes in Fulda, 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 Fulda’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Fulda, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Fulda, Cottonwood County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.6%
Estimate Property Tax Bill
$1,437
$1,333
Property Tax Rates Across Fulda, Cottonwood County, Minnesota
Local government entities set tax rates, which can vary widely within a state. This is 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 Fulda’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S. Fulda, located in Cottonwood County, has an effective property tax rate of 0.65%, which is significantly lower than the national median property tax rate of 1.02%. This makes Fulda an attractive location for property owners looking to minimize their tax burden. The consistency in Fulda's tax rate, being both the highest and lowest in the area, offers predictability and stability for homeowners. Understanding these rates can help property owners make informed decisions about appealing their property taxes or seeking exemptions, ensuring they are not overpaying.
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 Fulda Tax Rate
0.60%
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 Cottonwood County Tax Rate
1.40%
Median Effective Minnesota Tax Rate
1.13%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Fulda, Cottonwood County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56131 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Fulda, Cottonwood County, Minnesota
When examining property taxes in Fulda, 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 Cottonwood 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 Cottonwood 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 Fulda. For example, the median home price in Fulda is $375,000, with tax bills ranging significantly across the county. Zip code 56131 has the highest median home price at $375,000.
Property Tax Assessment Values Across Fulda, Cottonwood County, Minnesota
Source: Ownwell
$71,300
$142,150
$213,000
Median Fulda Market Value
$239,500
Median Cottonwood County Market Value
$118,000
Median Minnesota Market Value
$304,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Fulda, Cottonwood County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56131 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Fulda, Cottonwood County, Minnesota
In Fulda, MN, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. This value reflects the market value of the property, and the tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as property improvements and changes in market conditions can affect the assessed value, thereby impacting the tax bill. Homeowners in Fulda face a median property tax bill of $2,685, which is slightly above the national median of $2,400. This can be a significant financial burden, especially when compared to the national median property tax rate of 1.02%.
Ownwell offers a solution by providing property tax appeal services that can help homeowners potentially lower their tax bills. By analyzing the assessed value and comparing it with similar properties, Ownwell can identify discrepancies and file appeals on behalf of homeowners. This service not only helps in reducing the tax burden but also ensures that property taxes are fair and accurate.
Median Fulda Tax Bill
$2,274
Median Cottonwood County Tax Bill
$1,556
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Fulda, Cottonwood County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56131 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell