Farwell, Douglas County, Minnesota Property Taxes
Median Farwell, MN effective property tax rate: 0.77%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Farwell, MN home value: $259,300
Median annual Farwell, MN tax bill: $1,802, $598 lower than the national median property tax bill of $2,400.
How are property taxes in Douglas County calculated?
Property taxes in Farwell, 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 Farwell’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Farwell, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Farwell, Douglas County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.74%
Estimate Property Tax Bill
$2,041
$1,894
Property Tax Rates Across Farwell, Douglas County, Minnesota
Local government entities have the authority to set property tax rates, leading to significant variations within a state. Each county, like 27041 in MN, estimates its annual budget requirements for services and divides this by the total value of all taxable property in its area. This process results in the property tax rate. While setting tax rates and budgets involves votes and legislation, this is the basic annual procedure.
You can compare Farwell's effective property tax rate to other cities in Minnesota and the median property tax rates in both Minnesota and the U.S. Farwell, located in Douglas County, has a median property tax rate of 0.77%, which is lower than the national median of 1.02%. This places Farwell below the national average, providing a more favorable tax environment compared to many other regions. Understanding these differences can help property owners make informed decisions about property investments and tax appeals.
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 Farwell Tax Rate
0.74%
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 Douglas County Tax Rate
0.84%
Median Effective Minnesota Tax Rate
1.13%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Farwell, Douglas County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56327 | 0.60% | 0.69% | 0.74% | 0.82% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Farwell, Douglas County, Minnesota
When examining property taxes in Farwell, 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 Douglas 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 Douglas 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 Farwell. For example, the median home price in Farwell is $259,300, with tax bills ranging significantly across the county. Zip code 56327 has the highest median home price at $259,300.
Property Tax Assessment Values Across Farwell, Douglas County, Minnesota
Source: Ownwell
$141,550
$239,825
$338,100
Median Farwell Market Value
$275,800
Median Douglas County Market Value
$289,600
Median Minnesota Market Value
$304,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Farwell, Douglas County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56327 | $41,500 | $121,300 | $275,800 | $466,100 | $636,600 |
Source: Ownwell
Property Tax Bills Across Farwell, Douglas County, Minnesota
Median Farwell Tax Bill
$1,926
Median Douglas County Tax Bill
$2,466
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Farwell, Douglas County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56327 | $303 | $846 | $1,926 | $3,403 | $4,595 |
Source: Ownwell