Renville, Redwood County, Minnesota Property Taxes
Median Renville, MN effective property tax rate: 0.67%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Renville, MN home value: $128,300
Median annual Renville, MN tax bill: $1,100, $1,300 lower than the national median property tax bill of $2,400.
How are property taxes in Redwood calculated?
Property taxes in Renville, 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 Renville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Renville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Renville, Redwood County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.67%
Estimate Property Tax Bill
$860
$798
Ownwell’s Renville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Renville with just two data points. By entering your property's estimated assessed value, our calculator applies Renville’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 Redwood County. For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Renville, Redwood County, Minnesota
Local government entities are responsible for setting tax rates, which can show significant variation within a state. The process begins with each county estimating its required budget to maintain essential services. This budget is then divided by the total value of all taxable property within the jurisdiction, resulting in the property tax rate. While votes and legislation play a role in determining tax rates and budgets, this is the core of the annual process.
In Renville, located in Redwood County, Minnesota, the effective property tax rate is an important figure to consider. Compared to other cities in Minnesota and the median property tax rates in the state and the U.S., Renville's tax rate offers a unique perspective. With a median property tax rate of 0.67% in Minnesota, it is noticeably lower than the national median property tax rate of 1.02%. This comparison provides valuable insights for property owners and potential buyers in understanding how Renville's property tax climate stacks up against broader benchmarks.
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 Renville Tax Rate
0.67%
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 Redwood County Tax Rate
1.19%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Renville, Redwood County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56284 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Renville, Redwood County, Minnesota
When examining property taxes in Renville, 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 Redwood 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.
Assessment notices: In Redwood 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 Renville. For example, the median home price in Renville is $128,300, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Renville, Redwood County, Minnesota
Source: Ownwell
$46,650
$175,025
$303,400
Median Renville Market Value
$128,300
Median Redwood County Market Value
$117,650
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Renville, Redwood County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56284 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Renville, Redwood County, Minnesota
In Renville, property tax bills are calculated by applying the local tax rate to the assessed value of a home. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. For homeowners in Renville, the median property tax bill is significantly lower than the national median, offering some relief. However, property tax bills can still vary widely across different homes, with the 25th percentile at $620 and the 75th percentile reaching $2,689. These variations depend on factors such as property location, size, and improvements. High property taxes can be a burden, especially for those at the 90th percentile, with bills reaching up to $3,455.
Ownwell can assist homeowners in Renville by identifying potential savings through appealing their property tax assessments or applying for exemptions. By leveraging expertise in local tax regulations and assessment practices, Ownwell helps ensure homeowners are not overpaying on their property taxes, potentially saving them hundreds or even thousands of dollars annually.
Median Renville Tax Bill
$1,100
Median Redwood County Tax Bill
$1,276
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Renville, Redwood County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56284 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell