Foley, Mille Lacs County, Minnesota Property Taxes

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

Median Foley, MN effective property tax rate: 0.90%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Foley, MN home value: $58,300
Median annual Foley, MN tax bill: $493, $1,907 lower than the national median property tax bill of $2,400.

How are property taxes in Mille Lacs County calculated?

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

Last Updated March 1, 2025

Foley, Mille Lacs County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.9%

Estimate Property Tax Bill

$525

$487

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

Property Tax Rates Across Foley, Mille Lacs County, Minnesota

Local government entities are responsible for setting tax rates, and these rates can vary significantly within a state. Each year, counties estimate their necessary budget to fund local services and then divide this amount by the total value of all taxable properties in their jurisdiction. This calculation determines the property tax rate. Although voting and legislation play a role in setting these rates and budgets, this is the core of the annual process.

In Foley, located in Mille Lacs County, Minnesota, the effective property tax rate is a crucial figure for homeowners to consider. Comparing Foley's rate to other cities in Minnesota, as well as the median rates across the state and the U.S., can provide valuable insights. Minnesota's median property tax rate is slightly below the national median, offering potential savings for property owners. Understanding these rates and how they affect your annual tax bill is essential for making informed decisions about property ownership and financial planning.

Property Tax Rates Across Foley, Mille Lacs County, Minnesota

Source: Ownwell

0.91%

1.03%

1.15%

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 Foley Tax Rate

0.90%

Median Effective Mille Lacs County Tax Rate

1.02%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Foley, Mille Lacs County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56329	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Foley, Mille Lacs County, Minnesota

When examining property taxes in Foley, 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 Mille Lacs 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 Mille Lacs 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 Foley. For example, the median home price in Foley is $58,300, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Foley, Mille Lacs County, Minnesota

Source: Ownwell

$77,800

$194,175

$310,550

Median Foley Market Value

$58,300

Median Mille Lacs County Market Value

$240,400

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Foley, Mille Lacs County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56329	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Foley, Mille Lacs County, Minnesota

In Foley, Mille Lacs County, MN, property tax bills are calculated based on the assessed value of a home. The median home price stands at $58,300, which is considerably lower than the national median. This lower home value means that tax bills in Foley are generally more affordable. The property tax bill for the 25th percentile is $432, while the 75th percentile sees a bill of $882, and the 90th percentile reaches $1,516. These figures highlight the variation in tax bills depending on property values and assessment criteria. Compared to the national median property tax bill of $2,400, Foley's residents enjoy relatively lower tax burdens. Homeowners in this area can benefit from appealing their property tax assessments to ensure they are not overpaying. Ownwell offers expert property tax appeal services, helping homeowners navigate the complexities of the tax system. By leveraging professional insights and local expertise, Ownwell can identify opportunities for tax reductions, ensuring homeowners pay only their fair share.

Property Tax Bills Across Foley, Mille Lacs County, Minnesota

Source: Ownwell

$854

$2,006

$3,158

Median Foley Tax Bill

$493

Median Mille Lacs County Tax Bill

$2,562

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Foley, Mille Lacs County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56329	N/A	N/A	N/A	N/A	N/A

Source: Ownwell