Heron Lake, Cottonwood County, Minnesota Property Taxes
Property Taxes in Heron Lake, Minnesota
Median Heron Lake, Minnesota effective property tax rate: 0.85%, significantly lower than the national median of 1.02%, and lower than the Minnesota state median of 1.13%.
Median Heron Lake, Minnesota home value: $161,250
Median annual Heron Lake, Minnesota tax bill: $1,612, $788 lower than the national median property tax bill of $2,400.
How are property taxes in Cottonwood calculated?
Property taxes in Heron Lake, Minnesota 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 Heron Lake's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Heron Lake, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Heron Lake, Cottonwood County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.85%
Estimate Property Tax Bill
$1,371
$1,272
How Does the Heron Lake Property Tax Calculator Work?
Use this Heron Lake property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Heron Lake's median effective tax rate of 0.85% — based on actual property records in Cottonwood County — to generate your estimate.
Enter your property's estimated assessed value — the figure used to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Heron Lake's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Heron Lake: rates range from 1612.00 in 56137 to 1612.00 in 56137, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Heron Lake.
About Heron Lake Property Taxes
About Property Taxes in Heron Lake, Cottonwood, Minnesota
Heron Lake's median effective property tax rate of 0.85% is lower than the Minnesota state median of 1.13% and lower than the national median of 1.02%. This rate reflects the Cottonwood County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Heron Lake. Homeowners in the 56137 ZIP code carry a median effective rate of 0.85%, while those in the same ZIP code pay 0.85%. This spread reflects how school district boundaries and local assessment districts are drawn across Cottonwood County. Understanding which part of Heron Lake you live in can make a meaningful difference to your annual tax bill.
Heron Lake homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the April 30, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Heron Lake, Cottonwood County, Minnesota
As noted earlier, 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 Heron Lake's effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.
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 Heron Lake Tax Rate
0.85%
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 Heron Lake, Cottonwood County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56137 | 0.66% | 0.75% | 0.85% | 1.11% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Heron Lake, Cottonwood County, Minnesota
When examining property taxes in Heron Lake, Minnesota, 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.
Assessment notices:
In Cottonwood County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
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 Heron Lake.
For example, the median home price in Heron Lake is $161,250, with tax bills ranging significantly across the county. 56137 has the highest median home price at $161,250.
Property Tax Assessment Values Across Heron Lake, Cottonwood County, Minnesota
Source: Ownwell
$71,300
$142,150
$213,000
Median Heron Lake Market Value
$161,250
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 Heron Lake, Cottonwood County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56137 | $97,060 | $121,325 | $161,250 | $193,800 | $248,850 |
Source: Ownwell
Property Tax Bills Across Heron Lake, Cottonwood County, Minnesota
Property tax bills in Heron Lake are based on the assessed value of a home and the local tax rate set for Cottonwood County and other taxing authorities. When a property’s market value changes, the assessed value can change too, which affects the final bill. For a home with a median market value of $161,250, the tax bill reflects how that value is taxed after any exemptions or local adjustments are applied.
Homeowners in Heron Lake typically see property tax bills that are shaped by both the home’s value and the tax rates in the area. The 25th percentile tax bill is $1,074, the 75th percentile is $1,948, and the 90th percentile is $2,117. The median tax bill in the ZIP code is $1,612, which is below the national median property tax bill of $2,400. That means many homeowners in Heron Lake pay less than the national median, but a higher assessed value or fewer exemptions can still raise the amount due.
Median Heron Lake Tax Bill
$1,612
Median Cottonwood County Tax Bill
$1,556
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Heron Lake, Cottonwood County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56137 | $751 | $1,074 | $1,612 | $1,948 | $2,117 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 30 |
Links | |
|---|---|
| Cottonwood Tax Assessor | |
| Website | beacon.schneidercorp.com |