New Prague, Le Sueur County, Minnesota Property Taxes

Name: Property Tax Bills Across New Prague, Le Sueur County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median New Prague, 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 New Prague, MN home value: $363,800. Median annual New Prague, MN tax bill: $3,763, $1,363 higher than the national median property tax bill of $2,400.

How are property taxes in Le Sueur calculated?

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

Last Updated March 1, 2025

New Prague, Le Sueur County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.21%

Estimate Property Tax Bill

$4,402

$4,085

Ownwell’s New Prague Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in New Prague with just two data points.

By entering your property's estimated assessed value, our calculator applies New Prague’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 Le Sueur.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across New Prague, Le Sueur County, Minnesota

Local government entities set tax rates, which can vary widely within a state. This variation is due to the annual process where 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 play a role in setting tax rates and budgets, this is the annual process in a nutshell. New Prague in Le Sueur County, Minnesota, has an effective property tax rate that aligns with the median property tax rate in the state, which is higher than the national median of 1.02%. This places New Prague’s rate above the national average, reflecting the state's tendency towards higher property tax rates. Understanding these rates is crucial for homeowners, as it impacts the overall cost of owning property. By comparing New Prague’s effective property tax rate to other cities in Minnesota and the median property tax rates in the state and the U.S., property owners can make more informed decisions.

Property Tax Rates Across New Prague, Le Sueur County, Minnesota

Source: Ownwell

0.82%

1.18%

1.53%

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 New Prague Tax Rate

1.21%

Median Effective Le Sueur County Tax Rate

1.14%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across New Prague, Le Sueur County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56071	0.88%	0.94%	1.21%	1.29%	1.30%

Source: Ownwell

Property Tax Assessment Values Across New Prague, Le Sueur County, Minnesota

When examining property taxes in New Prague, 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 Le Sueur 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 Le Sueur 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 New Prague.

For example, the median home price in New Prague is $363,800, with tax bills ranging significantly across the county. Zip code 56071 has the highest median home price at $363,800.

Property Tax Assessment Values Across New Prague, Le Sueur County, Minnesota

Source: Ownwell

$239,600

$350,275

$460,950

Median New Prague Market Value

$363,800

Median Le Sueur County Market Value

$290,800

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across New Prague, Le Sueur County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56071	$203,990	$263,650	$363,800	$442,700	$550,410

Source: Ownwell

Property Tax Bills Across New Prague, Le Sueur County, Minnesota

In New Prague, located in Le Sueur County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as market trends, property improvements, and neighborhood developments can influence the assessed value. Homeowners in New Prague face a median property tax bill of $3,763, which is notably higher than the national median of $2,400. This can place a significant financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%. Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies or opportunities for exemptions, Ownwell helps homeowners potentially lower their tax bills. This ensures they only pay their fair share, offering peace of mind and financial relief to property owners in New Prague.

Property Tax Bills Across New Prague, Le Sueur County, Minnesota

Source: Ownwell

$2,360

$3,385

$4,410

Median New Prague Tax Bill

$3,763

Median Le Sueur County Tax Bill

$3,200

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across New Prague, Le Sueur County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56071	$2,256	$2,874	$3,763	$5,112	$5,894

Source: Ownwell