Redwood Falls, Renville County, Minnesota Property Taxes

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

Median Redwood Falls, MN effective property tax rate: 0.62%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Redwood Falls, MN home value: $237,100
Median annual Redwood Falls, MN tax bill: $1,390, $1,010 lower than the national median property tax bill of $2,400.

How are property taxes in Renville County calculated?

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

Last Updated March 1, 2025

Redwood Falls, Renville County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.62%

Estimate Property Tax Bill

$1,470

$1,364

Ownwell’s Redwood Falls Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Redwood Falls with just two data points. By entering your property's estimated assessed value, our calculator applies Redwood Falls’ 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 Redwood Falls, 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, resulting 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.

In Redwood Falls, located in Renville County, the effective property tax rate is 0.62%. This rate is notably lower than the national median property tax rate of 1.02%, offering homeowners a more affordable tax burden compared to many other regions. The median property tax bill here aligns with the state's overall trend, providing a sense of consistency across Minnesota.

For homeowners, this lower rate can translate into significant savings, especially when compared to areas with higher tax rates. The cost-effectiveness of owning property in Redwood Falls makes it an attractive option for potential buyers and current residents alike. This affordability, coupled with the benefits of living in Minnesota, enhances the appeal of Redwood Falls as a place to call home.

Property Tax Rates Across Redwood Falls, 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 Redwood Falls Tax Rate

0.62%

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 Redwood Falls, Renville County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56283	0.21%	0.36%	0.62%	0.70%	0.77%

Source: Ownwell

Property Tax Assessment Values Across Redwood Falls, Renville County, Minnesota

When examining property taxes in Redwood Falls, 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 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 Renville 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 Redwood Falls. For example, the median home price in Redwood Falls is $237,100, with tax bills ranging significantly across the county. 56283 has the highest median home price at $237,100.

Property Tax Assessment Values Across Redwood Falls, Renville County, Minnesota

Source: Ownwell

$75,700

$185,450

$295,200

Median Redwood Falls Market Value

$237,100

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 Redwood Falls, Renville County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56283	$96,300	$164,875	$237,100	$533,875	$1,251,250

Source: Ownwell

Property Tax Bills Across Redwood Falls, Renville County, Minnesota

In Redwood Falls, located in Renville County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This value is then multiplied by the local tax rate, which varies depending on the area and local government budgets. The median home price in Redwood Falls is $237,100, and the median property tax bill is $1,390, which is below the national median of $2,400. Homeowners in the 25th percentile pay around $1,023, while those in the 75th and 90th percentiles face bills of $2,579 and $3,996, respectively. These figures highlight the range of tax burdens homeowners might experience. Factors such as changes in local government spending, property improvements, and market conditions can impact tax bills. By leveraging Ownwell's property tax appeal services, homeowners can potentially reduce their tax bills. Our team of experts reviews assessments and identifies discrepancies, ensuring homeowners pay only their fair share.

Property Tax Bills Across Redwood Falls, Renville County, Minnesota

Source: Ownwell

$964

$1,546

$2,127

Median Redwood Falls Tax Bill

$1,390

Median Renville County Tax Bill

$1,564

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Redwood Falls, Renville County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56283	$366	$1,023	$1,390	$2,579	$3,996

Source: Ownwell