Red Wing, Goodhue County, Minnesota Property Taxes

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

Median RED WING, MN effective property tax rate: 1.25%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median RED WING, MN home value: $236,600
Median annual RED WING, MN tax bill: $2,934, $534 higher than the national median property tax bill of $2,400.

How are property taxes in Goodhue County calculated?

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

Last Updated March 1, 2025

Red Wing, Goodhue County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.25%

Estimate Property Tax Bill

$2,958

$2,744

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

Property Tax Rates Across Red Wing, Goodhue County, Minnesota

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting 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. In Red Wing, located in Goodhue County, the effective property tax rate stands at 1.25%. This rate is not only the highest in the area but also the lowest, as it remains consistent across the board. Compared to the state median tax rate of 1.25%, Red Wing aligns perfectly, showcasing stability within the region. However, when contrasted with the national median property tax rate of 1.02%, Red Wing's rate is noticeably higher, which can impact homeowners' annual tax bills. Understanding these rates is crucial for property owners seeking to manage their expenses effectively.

Property Tax Rates Across Red Wing, Goodhue County, Minnesota

Source: Ownwell

0.45%

0.95%

1.45%

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 Red Wing Tax Rate

1.25%

Median Effective Goodhue County Tax Rate

1.21%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Red Wing, Goodhue County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55066	0.79%	1.13%	1.25%	1.34%	1.37%

Source: Ownwell

Property Tax Assessment Values Across Red Wing, Goodhue County, Minnesota

When examining property taxes in Red Wing, 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 Goodhue 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 Goodhue 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 Red Wing. For example, the median home price in Red Wing is $236,600, with tax bills ranging significantly across the county. 55066 has the highest median home price at $236,600.

Property Tax Assessment Values Across Red Wing, Goodhue County, Minnesota

Source: Ownwell

$146,000

$358,350

$570,700

Median Red Wing Market Value

$236,600

Median Goodhue County Market Value

$266,700

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Red Wing, Goodhue County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55066	$94,500	$167,300	$236,600	$338,200	$474,740

Source: Ownwell

Property Tax Bills Across Red Wing, Goodhue County, Minnesota

In Red Wing, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate applied to this value is set by local taxing authorities. With a median home price of $236,600, homeowners in Red Wing face a tax bill that can significantly impact their finances. For example, the median property tax bill in the area is $2,934, which is above the national median property tax bill of $2,400. Tax bills can vary widely; the 25th percentile is $2,114, while the 75th percentile reaches $4,032, and the 90th percentile peaks at $5,592. These variations illustrate the potential financial burden on homeowners. Fortunately, consulting services like Ownwell can help homeowners navigate this complex system. By identifying potential savings through appeals or exemptions, Ownwell can reduce the property tax burden, ensuring homeowners only pay their fair share. This assistance can lead to significant savings, providing peace of mind and financial relief.

Property Tax Bills Across Red Wing, Goodhue County, Minnesota

Source: Ownwell

$2,074

$2,986

$3,897

Median Red Wing Tax Bill

$2,934

Median Goodhue County Tax Bill

$3,110

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Red Wing, Goodhue County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55066	$1,496	$2,114	$2,934	$4,032	$5,592

Source: Ownwell