Thief River Falls, Marshall County, Minnesota Property Taxes

Name: Property Tax Bills Across Thief River Falls, Marshall County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Thief River Falls, MN effective property tax rate: 0.63%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Thief River Falls, MN home value: $160,750
Median annual Thief River Falls, MN tax bill: $902, $1,498 lower than the national median property tax bill of $2,400.

How are property taxes in Marshall calculated?

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

Last Updated March 1, 2025

Thief River Falls, Marshall County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.63%

Estimate Property Tax Bill

$1,109

$1,029

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

Property Tax Rates Across Thief River Falls, Marshall 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. 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. Below, you can compare Thief River Falls’ effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.

In Thief River Falls, located in Marshall County, the property tax rate stands at 0.63%. This is significantly lower than the national median property tax rate of 1.02%. Residents in this area benefit from a lower property tax burden compared to many other regions in the country. The median property tax bill here is also likely to be less than the national median of $2,400, making it an attractive location for property owners seeking to reduce their annual expenses. Understanding these nuances can help property owners make informed decisions about where to live or invest.

Property Tax Rates Across Thief River Falls, Marshall County, Minnesota

Source: Ownwell

0.43%

1.01%

1.60%

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 Thief River Falls Tax Rate

0.63%

Median Effective Marshall County Tax Rate

0.88%

Median Effective Minnesota Tax Rate

1.13%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Thief River Falls, Marshall County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56701	0.37%	0.52%	0.63%	0.70%	0.76%

Source: Ownwell

Property Tax Assessment Values Across Thief River Falls, Marshall County, Minnesota

When examining property taxes in Thief River Falls, 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 Marshall 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 Marshall 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 Thief River Falls. For example, the median home price in Thief River Falls is $160,750, with tax bills ranging significantly across the county. Zip code 56701 has the highest median home price at $160,750.

Property Tax Assessment Values Across Thief River Falls, Marshall County, Minnesota

Source: Ownwell

$65,400

$129,350

$193,300

Median Thief River Falls Market Value

$176,050

Median Marshall County Market Value

$120,600

Median Minnesota Market Value

$304,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Thief River Falls, Marshall County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56701	$19,820	$76,050	$176,050	$281,525	$379,400

Source: Ownwell

Property Tax Bills Across Thief River Falls, Marshall County, Minnesota

In Thief River Falls, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessment considers factors such as the home's size, location, and condition. The median home price in Thief River Falls is $160,750, which influences the property tax bill. The tax rate is applied to the assessed value, resulting in the annual tax bill. In Thief River Falls, the median property tax bill is $902, significantly lower than the national median property tax bill of $2,400. This lower tax bill can be attributed to the region's overall property values and tax rates. Homeowners in Thief River Falls may find their property tax bills vary, with the 25th percentile at $372 and the 75th percentile at $1,619. Ownwell can assist homeowners in reducing their property tax bills by providing expert guidance on appealing assessments and identifying potential exemptions, ensuring they pay only their fair share.

Property Tax Bills Across Thief River Falls, Marshall County, Minnesota

Source: Ownwell

$424

$1,095

$1,766

Median Thief River Falls Tax Bill

$940

Median Marshall County Tax Bill

$954

Median Minnesota Tax Bill

$3,364

Median United States Tax Bill

$2,400

Property Tax Bills Across Thief River Falls, Marshall County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56701	$123	$394	$940	$1,782	$2,322

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	April 30

Links
Marshall Tax Assessor
Website	beacon.schneidercorp.com