Wanamingo, Goodhue County, Minnesota Property Taxes

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

Median Wanamingo, MN effective property tax rate: 1.35%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Wanamingo, MN home value: $255,050
Median annual Wanamingo, MN tax bill: $3,067, $667 higher than the national median property tax bill of $2,400.

How are property taxes in Goodhue County calculated?

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

Last Updated March 1, 2025

Wanamingo, Goodhue County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.35%

Estimate Property Tax Bill

$3,443

$3,195

Ownwell’s Wanamingo Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Wanamingo with just two data points. By entering your property's estimated assessed value, our calculator applies Wanamingo’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 Wanamingo, Goodhue County, Minnesota

Local government entities set tax rates, which can vary widely within a state. This is 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. In Wanamingo, situated in Goodhue County, MN, the effective property tax rate stands at 1.35%. This rate is notably higher than the national median property tax rate of 1.02%. The city’s tax rate is also the highest in the state, matching the state’s median rate, and highlights the variability of property tax rates even within a single state. Such differences emphasize the importance of understanding local tax rates, as they can significantly impact the financial responsibilities of property owners.

Property Tax Rates Across Wanamingo, 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 Wanamingo Tax Rate

1.35%

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 Wanamingo, Goodhue County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55983	0.52%	0.90%	1.35%	1.42%	1.48%

Source: Ownwell

Property Tax Assessment Values Across Wanamingo, Goodhue County, Minnesota

When examining property taxes in Wanamingo, 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 Assessor's Office 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: Goodhue County sends assessment notices 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 Wanamingo. For example, the median home price in Wanamingo is $255,050, with tax bills ranging significantly across the county. Zip code 55983 has the highest median home price at $255,050.

Property Tax Assessment Values Across Wanamingo, Goodhue County, Minnesota

Source: Ownwell

$146,000

$358,350

$570,700

Median Wanamingo Market Value

$255,050

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 Wanamingo, Goodhue County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55983	$92,310	$196,075	$255,050	$336,325	$492,130

Source: Ownwell

Property Tax Bills Across Wanamingo, Goodhue County, Minnesota

In Wanamingo, located in Goodhue County, MN, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. With a median home price of $255,050, homeowners in this area face tax bills that vary widely. For instance, the tax bill at the 25th percentile is $2,328, while at the 75th percentile, it reaches $4,112. The 90th percentile tax bill can soar to $5,043, reflecting the variability in assessments and local rates. Compared to the national median property tax bill of $2,400, Wanamingo's figures highlight the potential financial burden on homeowners. Ownwell assists homeowners by offering property tax appeal services, potentially lowering their tax bills. By analyzing market trends and identifying discrepancies in assessments, Ownwell helps ensure that homeowners aren't overpaying. This service can lead to significant savings, providing financial relief and ensuring fairness in the taxation process.

Property Tax Bills Across Wanamingo, Goodhue County, Minnesota

Source: Ownwell

$2,074

$2,986

$3,897

Median Wanamingo Tax Bill

$3,067

Median Goodhue County Tax Bill

$3,110

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Wanamingo, Goodhue County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55983	$1,717	$2,328	$3,067	$4,112	$5,043

Source: Ownwell