West Concord, Goodhue County, Minnesota Property Taxes

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

Median West Concord, MN effective property tax rate: 0.45%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median West Concord, MN home value: $570,700
Median annual West Concord, MN tax bill: $3,148, $748 higher than the national median property tax bill of $2,400.

How are property taxes in Goodhue County calculated?

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

Last Updated March 1, 2025

West Concord, Goodhue County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.45%

Estimate Property Tax Bill

$2,568

$2,383

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

Local government entities set tax rates, which can vary widely within a state. The process involves each county estimating its required budget to provide services and dividing 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 West Concord, located in Goodhue County, Minnesota, the effective property tax rate is notably lower than both the state and national averages. Minnesota's median property tax rate is generally higher than West Concord's rate, which stands out for its affordability. The national median property tax rate is 1.02%, which results in an average tax bill of $2,400. However, West Concord's rate offers residents a more economical option.

This lower tax rate can be a significant draw for potential homeowners and investors looking for a community with lower property tax obligations. The financial relief provided by such a rate can make a substantial difference in overall living costs, making West Concord an attractive option for those seeking budget-friendly property tax solutions.

Property Tax Rates Across West Concord, 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 West Concord Tax Rate

0.45%

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 West Concord, Goodhue County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55985	0.29%	0.38%	0.45%	0.67%	0.81%

Source: Ownwell

Property Tax Assessment Values Across West Concord, Goodhue County, Minnesota

When examining property taxes in West Concord, 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: In Goodhue 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 West Concord. For example, the median home price in West Concord is $570,700, with tax bills ranging significantly across the county. 55985 has the highest median home price at $570,700.

Property Tax Assessment Values Across West Concord, Goodhue County, Minnesota

Source: Ownwell

$146,000

$358,350

$570,700

Median West Concord Market Value

$570,700

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 West Concord, Goodhue County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55985	$317,930	$355,000	$570,700	$1,263,500	$1,755,020

Source: Ownwell

Property Tax Bills Across West Concord, Goodhue County, Minnesota

In West Concord, located in Goodhue County, MN, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined based on the market value of the property, and it plays a crucial role in the calculation of property tax bills. In this area, the median home price is $570,700, which significantly influences the tax bill amount. Homeowners in West Concord can expect tax bills to range from $2,036 at the 25th percentile to $5,810 at the 90th percentile. This range highlights how varying property values and local tax rates can impact the financial burden on homeowners. With the median property tax bill in West Concord being $3,148, it is higher than the national median of $2,400. Ownwell offers expertise in property tax appeals and exemption services, helping homeowners potentially reduce their tax bills. By assessing your property’s value and ensuring it is fair, Ownwell can assist in securing savings on your property taxes.

Property Tax Bills Across West Concord, Goodhue County, Minnesota

Source: Ownwell

$2,074

$2,986

$3,897

Median West Concord Tax Bill

$3,148

Median Goodhue County Tax Bill

$3,110

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across West Concord, Goodhue County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55985	$1,870	$2,036	$3,148	$5,062	$5,810

Source: Ownwell