Lester Prairie, Mcleod County, Minnesota Property Taxes

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

Median Lester Prairie, MN effective property tax rate: 1.29%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Lester Prairie, MN home value: $24,300
Median annual Lester Prairie, MN tax bill: $490, $1,910 lower than the national median property tax bill of $2,400.

How are property taxes in McLeod calculated?

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

Last Updated March 1, 2025

Lester Prairie, Mcleod County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.54%

Estimate Property Tax Bill

$413

$383

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

Property Tax Rates Across Lester Prairie, Mcleod County, Minnesota

Local government entities are responsible for setting tax rates, and these can differ significantly within a state. This is because each year, counties estimate the budget needed to provide public services and divide it by the total value of taxable properties in their jurisdiction, resulting in the property tax rate. While the process involves votes and legislation, this is essentially how it works annually.

In Lester Prairie, located in McLeod County, Minnesota, the effective property tax rate stands at 1.29%. This rate matches the highest and lowest median tax rates within the county, highlighting a uniformity in property tax rates across different areas. When compared to the national median property tax rate of 1.02%, Lester Prairie's rate is noticeably higher, suggesting a greater reliance on property taxes to fund local services. However, it is important to note that the median property tax bill can vary based on property values and other local factors.

Understanding these dynamics can help property owners in Lester Prairie make informed decisions about their tax liabilities and potential appeals.

Property Tax Rates Across Lester Prairie, Mcleod County, Minnesota

Source: Ownwell

0.93%

1.73%

2.52%

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 Lester Prairie Tax Rate

1.54%

Median Effective Mcleod County Tax Rate

1.37%

Median Effective Minnesota Tax Rate

1.13%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lester Prairie, Mcleod County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55354	0.79%	1.03%	1.54%	1.65%	1.98%

Source: Ownwell

Property Tax Assessment Values Across Lester Prairie, Mcleod County, Minnesota

When examining property taxes in Lester Prairie, 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 McLeod 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.

In McLeod 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 Lester Prairie.

For example, the median home price in Lester Prairie is $24,300, with tax bills ranging significantly across the county. Zip code 55354 has the highest median home price at $24,300.

Property Tax Assessment Values Across Lester Prairie, Mcleod County, Minnesota

Source: Ownwell

$10,650

$28,275

$45,900

Median Lester Prairie Market Value

$26,800

Median Mcleod County Market Value

$29,800

Median Minnesota Market Value

$304,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lester Prairie, Mcleod County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55354	$4,800	$12,325	$26,800	$49,800	$96,930

Source: Ownwell

Property Tax Bills Across Lester Prairie, Mcleod County, Minnesota

In Lester Prairie, located in McLeod County, MN, property tax bills are calculated based on the assessed value of a home. The median home price in this area stands at $24,300, significantly lower than the national median. Property taxes are determined by multiplying the assessed value by the local tax rate, which can vary based on municipal budgets and funding needs. For homeowners in Lester Prairie, the property tax bill at the 25th percentile is approximately $186, while it rises to $682 at the 75th percentile, and $1,748 at the 90th percentile. These figures indicate a wide range in tax obligations that can impact household budgets. Compared to the national median property tax bill of $2,400, Lester Prairie's taxes are relatively low. However, any unnecessary tax burden can still be a concern for homeowners. Ownwell can assist by reviewing assessments and identifying opportunities for appeals or exemptions, potentially lowering tax bills and providing financial relief. With expert guidance, homeowners can ensure they are not overpaying on their property taxes.

Property Tax Bills Across Lester Prairie, Mcleod County, Minnesota

Source: Ownwell

$340

$433

$526

Median Lester Prairie Tax Bill

$452

Median Mcleod County Tax Bill

$466

Median Minnesota Tax Bill

$3,364

Median United States Tax Bill

$2,400

Property Tax Bills Across Lester Prairie, Mcleod County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55354	$44	$235	$452	$657	$1,352

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	April 30

Links
McLeod Tax Assessor
Website	publicaccess.mcleodcountymn.gov