Olivia, Renville County, Minnesota Property Taxes

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

Median OLIVIA, MN effective property tax rate: 1.31%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median OLIVIA, MN home value: $153,200
Median annual OLIVIA, MN tax bill: $1,729, $671 lower than the national median property tax bill of $2,400.

How are property taxes in Renville calculated?

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

Last Updated March 1, 2025

Olivia, Renville County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.31%

Estimate Property Tax Bill

$2,007

$1,862

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

Property Tax Rates Across Olivia, Renville County, Minnesota

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare OLIVIA’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.

In OLIVIA, located in Renville County, the property tax rate is notably different from the national median. Minnesota's median property tax rate stands at 1.31%, which is higher than the national median of 1.02%. This means homeowners in OLIVIA might find themselves paying more in property taxes compared to other parts of the country. However, it's important to remember that these taxes fund essential local services, contributing to the community's overall quality of life. Understanding how these rates compare can help residents make informed decisions about property investments and financial planning.

Property Tax Rates Across Olivia, Renville County, Minnesota

Source: Ownwell

0.55%

1.04%

1.52%

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 Olivia Tax Rate

1.31%

Median Effective Renville County Tax Rate

1.31%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Olivia, Renville County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56277	0.49%	1.04%	1.31%	1.53%	1.78%

Source: Ownwell

Property Tax Assessment Values Across Olivia, Renville County, Minnesota

When examining property taxes in Olivia, 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 Renville 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 Renville County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Olivia. For example, the median home price in Olivia is $153,200, with tax bills ranging significantly across the county. 56277 has the highest median home price at $153,200.

Property Tax Assessment Values Across Olivia, Renville County, Minnesota

Source: Ownwell

$75,700

$185,450

$295,200

Median Olivia Market Value

$153,200

Median Renville County Market Value

$142,100

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Olivia, Renville County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56277	$50,200	$90,725	$153,200	$241,875	$369,250

Source: Ownwell

Property Tax Bills Across Olivia, Renville County, Minnesota

In Olivia, Minnesota, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and typically reflects a percentage of the property's market value. Homeowners in Olivia face a median property tax bill of $1,729, which is below the national median of $2,400. Factors such as property location, size, and improvements can influence the assessment, and consequently, the tax bill. In Olivia, tax bills can range from $1,076 at the 25th percentile to $4,052 at the 90th percentile, demonstrating significant variability based on these factors. This variability can make it challenging for homeowners to ensure they are not overpaying. Ownwell assists homeowners by providing expert property tax appeal services, potentially lowering their tax bills. By analyzing property assessments and market data, Ownwell identifies opportunities for appeals, helping homeowners save money. Engaging Ownwell's services means homeowners can navigate the complexities of property tax assessments with confidence.

Property Tax Bills Across Olivia, Renville County, Minnesota

Source: Ownwell

$964

$1,546

$2,127

Median Olivia Tax Bill

$1,729

Median Renville County Tax Bill

$1,564

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Olivia, Renville County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56277	$625	$1,076	$1,729	$2,702	$4,052

Source: Ownwell