Lyle, Freeborn County, Minnesota Property Taxes
Median Lyle, MN effective property tax rate: 1.21%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Lyle, MN home value: $186,950
Median annual Lyle, MN tax bill: $1,785, $615 lower than the national median property tax bill of $2,400.
How are property taxes in Freeborn County calculated?
Property taxes in Lyle, 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 Lyle’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lyle, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lyle, Freeborn County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.99%
Estimate Property Tax Bill
$2,012
$1,867
Property Tax Rates Across Lyle, Freeborn County, Minnesota
Local government entities set tax rates, which can vary widely within a state. 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 votes and laws are involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Lyle’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.
Lyle, located in Freeborn County, has a median property tax rate of 1.21%, which is higher than the national median of 1.02%. This places Lyle among the regions with the highest property tax rates in the state. The rate is consistent across the county, reflecting uniformity in how property taxes are assessed within this jurisdiction. Understanding these rates is crucial for property owners, as it impacts the overall cost of owning property in the area.
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 Lyle Tax Rate
0.99%
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 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 Lyle, Freeborn County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55953 | 0.81% | 0.89% | 0.99% | 1.03% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Lyle, Freeborn County, Minnesota
When examining property taxes in Lyle, 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 May. 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 Lyle. For example, the median home price in Lyle is $186,950, with tax bills ranging significantly across the county. Zip code 55953 has the highest median home price at $186,950.
Property Tax Assessment Values Across Lyle, Freeborn County, Minnesota
Source: Ownwell
$59,750
$224,025
$388,300
Median Lyle Market Value
$203,250
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 Lyle, Freeborn County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55953 | $57,570 | $82,075 | $203,250 | $271,400 | $399,390 |
Source: Ownwell
Property Tax Bills Across Lyle, Freeborn County, Minnesota
Property tax bills in Lyle, located in Freeborn County, MN, are determined by assessing the property's value and applying the local tax rate. The median home price in the area is $186,950. Property tax rates are influenced by local government budgets and community needs, impacting the final tax bill for homeowners. In Lyle, the median property tax bill is $1,785, which is below the national median of $2,400, offering a relatively affordable tax environment for homeowners. However, tax bills can vary significantly, with the 25th percentile at $837 and the 90th percentile reaching $3,885, reflecting differences in property values and assessments.
Ownwell can assist homeowners in Lyle by reviewing their property assessments to identify potential overvaluations. By filing appeals and seeking exemptions, Ownwell helps ensure that homeowners pay only their fair share, potentially reducing their property tax bills. With expert knowledge and experience in property tax processes, Ownwell offers a strategic advantage to homeowners seeking to manage their tax liabilities effectively.
Median Lyle Tax Bill
$2,008
Median Freeborn County Tax Bill
$1,774
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Lyle, Freeborn County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55953 | $658 | $769 | $2,008 | $2,638 | $3,121 |
Source: Ownwell