Oklee, Red Lake County, Minnesota Property Taxes

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

Median Oklee, MN effective property tax rate: 1.03%, slightly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Oklee, MN home value: $92,900
Median annual Oklee, MN tax bill: $848, $1,552 lower than the national median property tax bill of $2,400.

How are property taxes in Red Lake County calculated?

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

Last Updated March 1, 2025

Oklee, Red Lake County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.03%

Estimate Property Tax Bill

$957

$888

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

Property Tax Rates Across Oklee, Red Lake County, Minnesota

Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation stems from the fact that each county annually estimates its budgetary needs to provide essential services. The total value of all taxable property within the county is then used to calculate the property tax rate. Although votes and legal frameworks play a role in determining tax rates and budgets, this is the fundamental annual process.

In Oklee, located in Red Lake County, Minnesota, the effective property tax rate is a reflection of this process. When comparing Oklee’s property tax rate to other cities in Minnesota, it aligns closely with the state’s median tax rate of 1.03%. This rate is slightly above the national median property tax rate of 1.02%, indicating a marginally higher tax burden compared to the national average. However, within Minnesota, Oklee's tax rate is consistent, as both the highest and lowest median tax rates in the state are also 1.03%. This uniformity suggests a stable property tax environment within the region.

Property Tax Rates Across Oklee, Red Lake County, Minnesota

Source: Ownwell

0.52%

1.05%

1.57%

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 Oklee Tax Rate

1.03%

Median Effective Red Lake County Tax Rate

1.03%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Oklee, Red Lake County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56742	0.49%	0.56%	1.03%	1.37%	1.63%

Source: Ownwell

Property Tax Assessment Values Across Oklee, Red Lake County, Minnesota

When examining property taxes in Oklee, 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 Red Lake 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. Assessment notices: In Red Lake 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 Oklee. For example, the median home price in Oklee is $92,900, with tax bills ranging significantly across the county. 56742 has the highest median home price at $92,900.

Property Tax Assessment Values Across Oklee, Red Lake County, Minnesota

Source: Ownwell

$92,900

$140,150

$187,400

Median Oklee Market Value

$92,900

Median Red Lake County Market Value

$138,800

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Oklee, Red Lake County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56742	$19,500	$51,550	$92,900	$153,650	$254,700

Source: Ownwell

Property Tax Bills Across Oklee, Red Lake County, Minnesota

In Oklee, located in Red Lake County, MN, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. With a median home price of $92,900, homeowners often face tax bills that range from $458 at the 25th percentile to $2,050 at the 90th percentile. This range indicates a variance in tax burdens depending on property values and local tax rates. The median tax bill in this area is $848, which is significantly lower than the national median of $2,400. Despite this, homeowners can still benefit from potential savings. Factors such as changes in property value, local government budgets, and tax rate adjustments can impact tax bills. By engaging with Ownwell, homeowners can leverage expert knowledge to navigate appeals and exemptions, ensuring their property taxes are fair and potentially reduced. Ownwell's services aim to provide relief and savings, helping homeowners manage their financial obligations more effectively.

Property Tax Bills Across Oklee, Red Lake County, Minnesota

Source: Ownwell

$666

$1,351

$2,036

Median Oklee Tax Bill

$848

Median Red Lake County Tax Bill

$1,274

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Oklee, Red Lake County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56742	$215	$458	$848	$1,490	$2,050

Source: Ownwell