Welcome, Martin County, Minnesota Property Taxes

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

Median WELCOME, MN effective property tax rate: 1.15%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median WELCOME, MN home value: $114,400
Median annual WELCOME, MN tax bill: $1,232, $1,168 lower than the national median property tax bill of $2,400.

How are property taxes in Martin calculated?

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

Last Updated March 1, 2025

Welcome, Martin County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.15%

Estimate Property Tax Bill

$1,316

$1,221

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

By entering your property's estimated assessed value, our calculator applies WELCOME’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 Martin County.

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

Property Tax Rates Across Welcome, Martin County, Minnesota

Local government entities in Minnesota set property tax rates, which can vary widely within the state. Each county, including Martin County, estimates its required budget to provide essential 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 essentially the annual process. In WELCOME, located in Martin County, the effective property tax rate is 1.15%, which is slightly above the national median property tax rate of 1.02%. The median property tax rate in Minnesota is also 1.15%, indicating that WELCOME aligns with the state average. However, the national median property tax bill is $2,400, which may differ based on assessed property values in different areas. By comparing WELCOME’s effective property tax rate to other cities in Minnesota and the U.S., property owners can better understand their tax obligations and explore potential savings through property tax appeals or exemptions.

Property Tax Rates Across Welcome, Martin County, Minnesota

Source: Ownwell

0.50%

1.39%

2.27%

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 Welcome Tax Rate

1.15%

Median Effective Martin County Tax Rate

1.14%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Welcome, Martin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56181	0.36%	0.59%	1.15%	1.58%	1.95%

Source: Ownwell

Property Tax Assessment Values Across Welcome, Martin County, Minnesota

When examining property taxes in Welcome, Minnesota, 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 Martin 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 Martin 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 Welcome. For example, the median home price in Welcome is $114,400, with tax bills ranging significantly across the county. Zip code 56181 has the highest median home price at $114,400.

Property Tax Assessment Values Across Welcome, Martin County, Minnesota

Source: Ownwell

$46,300

$190,975

$335,650

Median Welcome Market Value

$114,400

Median Martin County Market Value

$139,200

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Welcome, Martin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56181	$23,600	$64,400	$114,400	$224,600	$461,040

Source: Ownwell

Property Tax Bills Across Welcome, Martin County, Minnesota

WELCOME in Martin County, MN, calculates property tax bills based on the assessed value of homes. This assessed value is determined by local assessors who evaluate the property's market value, taking into account factors such as location, size, and condition. The tax bill is then calculated by applying the local tax rate to this assessed value. The median property tax bill in Martin County is $1,232, which is below the national median of $2,400. Homeowners in the 25th percentile pay around $667, while those in the 75th percentile pay about $1,887. For those in the 90th percentile, the tax bill can reach $2,898. Property taxes significantly impact homeowners, as they are a recurring expense that can affect overall affordability.

Ownwell offers services to help homeowners in WELCOME potentially reduce their property tax bills. By analyzing each property's assessed value and ensuring it reflects the true market value, Ownwell identifies opportunities for appeals and exemptions, helping homeowners save money and alleviate the financial burden of property taxes.

Property Tax Bills Across Welcome, Martin County, Minnesota

Source: Ownwell

$1,073

$1,765

$2,456

Median Welcome Tax Bill

$1,232

Median Martin County Tax Bill

$1,428

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Welcome, Martin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56181	$254	$667	$1,232	$1,887	$2,898

Source: Ownwell