Austin, Freeborn County, Minnesota Property Taxes

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

Median Austin, MN effective property tax rate: 0.94%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Austin, MN home value: $286,850
Median annual Austin, MN tax bill: $2,698, $298 higher than the national median property tax bill of $2,400.

How are property taxes in Freeborn calculated?

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

Last Updated March 1, 2025

Austin, Freeborn County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.86%

Estimate Property Tax Bill

$2,741

$2,544

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

Property Tax Rates Across Austin, Freeborn County, Minnesota

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 Austin’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S. Austin, nestled in Freeborn County, has a median property tax rate of 0.94%. This is notably lower than the national median property tax rate of 1.02%. This means that homeowners in Austin may enjoy a lighter tax burden compared to the national average. Understanding these rates can help property owners make informed decisions about their investments and financial planning.

Property Tax Rates Across Austin, Freeborn County, Minnesota

Source: Ownwell

0.70%

1.17%

1.65%

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 Austin Tax Rate

0.86%

Median Effective Freeborn County Tax Rate

1.05%

Median Effective Minnesota Tax Rate

1.13%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Austin, Freeborn County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55912	0.45%	0.66%	0.86%	0.97%	1.05%

Source: Ownwell

Property Tax Assessment Values Across Austin, Freeborn County, Minnesota

When examining property taxes in Austin, 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 Freeborn 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 Freeborn 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 Austin.

For example, the median home price in Austin is $286,850, with tax bills ranging significantly across the county. Zip code 55912 has the highest median home price at $286,850.

Property Tax Assessment Values Across Austin, Freeborn County, Minnesota

Source: Ownwell

$59,750

$224,025

$388,300

Median Austin Market Value

$318,750

Median Freeborn County Market Value

$168,300

Median Minnesota Market Value

$304,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Austin, Freeborn County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55912	$95,840	$204,550	$318,750	$553,425	$896,980

Source: Ownwell

Property Tax Bills Across Austin, Freeborn County, Minnesota

In Austin, located in Freeborn County, MN, property taxes are calculated based on the assessed value of a home. The assessed value is determined by local assessors and is meant to reflect the market value of the property. Homeowners in Austin face a median property tax bill of $2,698, which is slightly above the national median of $2,400. Factors influencing the tax bill include the property's location, size, and any improvements made. For instance, homes in the 55912 zip code experience the highest median tax bills in the area. With tax bills ranging from the 25th percentile at $1,580 to the 90th percentile at $5,871, property taxes can significantly impact homeowners' budgets. Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing the assessed value and comparing it to market conditions, Ownwell helps homeowners identify potential savings. This service can result in reduced tax bills, alleviating financial pressure and ensuring homeowners pay only their fair share.

Property Tax Bills Across Austin, Freeborn County, Minnesota

Source: Ownwell

$752

$1,782

$2,812

Median Austin Tax Bill

$2,647

Median Freeborn County Tax Bill

$1,774

Median Minnesota Tax Bill

$3,364

Median United States Tax Bill

$2,400

Property Tax Bills Across Austin, Freeborn County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55912	$730	$1,636	$2,647	$4,136	$5,849

Source: Ownwell