Rice County, Minnesota Property Taxes
Property Taxes in Rice County, Minnesota
Median Rice County effective property tax rate: 1.09%, significantly higher than the national median of 1.02%.
Median Rice County home value: $322,300
Median annual Rice County tax bill: $3,428, $1,028 lower than the state median property tax bill of $4,456.
How are property taxes in Rice County calculated?
Property taxes in Rice County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Rice County or another part of the county, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Rice County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.09%
Estimate Property Tax Bill
$3,513
$3,260
How Does the Rice County Property Tax Calculator Work?
Use this Rice County property tax calculator to estimate your annual property tax bill. Enter your property’s assessed value and our calculator applies Rice County’s median effective tax rate of 1.09% to generate your estimate.
Enter your property’s estimated assessed value — the figure used for tax purposes, which is typically lower than market value after applicable exemptions. Our calculator uses the median effective rate for a more accurate estimate than the statutory millage rate alone.
Your actual bill may vary based on your specific exemptions, local school district levies, and any special assessment districts that apply to your property. Rice County’s median tax rate is higher than Minnesota’s 1.13% median tax rate, and the county’s median tax bill of $3,428 is $1,028 higher than the state median tax bill and above the $2,400 national median property tax bill.
For a more precise estimate, scroll down to explore city and ZIP code-level tax rate trends across Rice County.
Property Tax Rates Across Rice County, Minnesota
What Are Effective Property Tax Rates Across Rice County?
Local government entities set tax rates, which vary widely across Rice County. Each year, the county estimates its budget for public services and divides that total by the assessed value of all taxable property within its jurisdiction.
Below, compare Rice County's effective property tax rate to other counties in Minnesota or the U.S. median of 1.02%.
Rice County's median effective rate stands at 1.09%, which is higher than the national median of 1.02%. Within Rice County, the highest rate is found in Northfield at 1.62%, while Kenyon has the lowest at 0.47%.
These variations reflect differences in local school district levies, special assessment districts assessments, and special district bonds — which compound the base county rate.
Our median effective property tax rate (tax bill Ă· 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 Rice County Tax Rate
1.09%
Our median effective property tax rate (tax bill Ă· 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 Minnesota Tax Rate
1.13%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Rice County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Dennison | 0.29% | 0.33% | 0.75% | 1.11% | 1.35% |
| Dundas | 0.43% | 1.07% | 1.41% | 1.51% | 1.54% |
| Elko New Market | 0.42% | 0.54% | 0.74% | 0.81% | 0.82% |
| Faribault | 0.54% | 0.74% | 1.03% | 1.12% | 1.18% |
| Kenyon | 0.23% | 0.26% | 0.47% | 0.69% | 0.73% |
| Kilkenny | 0.28% | 0.43% | 0.72% | 0.80% | 0.82% |
| Lonsdale | 0.43% | 0.80% | 1.14% | 1.18% | 1.22% |
| Medford | 0.25% | 0.40% | 0.65% | 0.74% | 0.78% |
| Montgomery | 0.28% | 0.34% | 0.63% | 0.83% | 0.86% |
| Morristown | 0.26% | 0.62% | 0.78% | 1.31% | 1.46% |
| Nerstrand | 0.27% | 0.43% | 0.75% | 0.90% | 1.02% |
| New Prague | 0.27% | 0.38% | 0.76% | 0.82% | 0.86% |
| Northfield | 1.03% | 1.27% | 1.62% | 1.69% | 1.75% |
| Warsaw | 0.55% | 0.62% | 0.65% | 0.69% | 0.73% |
| Waterville | 0.26% | 0.31% | 0.67% | 0.75% | 0.80% |
| Webster | 0.32% | 0.69% | 0.83% | 1.09% | 1.15% |
| Elko | N/A | N/A | N/A | N/A | N/A |
| Lakeville | N/A | N/A | N/A | N/A | N/A |
| Waseca | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Rice County, Minnesota
When examining property taxes in Rice County, 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 Rice 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 Rice 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 Rice County.
For example, the median tax bill in Rice County is $3,428, with tax bills ranging significantly across the county. New Prague has the highest median home price at $524,000.
Median Rice County Market Value
$322,300
Median Minnesota Market Value
$304,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Rice County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Dennison | $78,050 | $228,450 | $418,600 | $648,975 | $1,063,270 |
| Dundas | $224,380 | $271,300 | $369,400 | $484,700 | $636,480 |
| Elko New Market | $274,620 | $417,450 | $503,800 | $719,050 | $1,149,860 |
| Faribault | $98,040 | $192,800 | $268,700 | $389,500 | $575,880 |
| Kenyon | $200,140 | $342,300 | $487,700 | $918,050 | $1,754,780 |
| Kilkenny | $63,640 | $279,900 | $413,900 | $562,100 | $829,260 |
| Lonsdale | $198,840 | $281,200 | $350,300 | $428,600 | $591,220 |
| Medford | $314,260 | $429,000 | $509,600 | $773,450 | $1,715,720 |
| Montgomery | $174,800 | $349,000 | $500,300 | $722,050 | $980,440 |
| Morristown | $28,720 | $171,600 | $285,700 | $463,500 | $780,580 |
| Nerstrand | $126,660 | $237,000 | $396,700 | $599,600 | $924,980 |
| New Prague | $272,380 | $377,350 | $524,000 | $693,750 | $902,000 |
| Northfield | $195,500 | $269,950 | $352,300 | $456,800 | $595,540 |
| Warsaw | $129,870 | $205,900 | $228,000 | $272,200 | $335,350 |
| Waterville | $30,420 | $196,300 | $342,800 | $558,100 | $1,064,820 |
| Webster | $203,510 | $334,575 | $477,550 | $660,400 | $883,960 |
| Elko | N/A | N/A | N/A | N/A | N/A |
| Lakeville | N/A | N/A | N/A | N/A | N/A |
| Waseca | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Rice County, Minnesota
Property tax bills in Rice County are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. The assessed value is then adjusted through the county’s tax system, and the final bill reflects the combined impact of county, city, school, and other local levies.
For a home with a median price of $322,300, the amount a homeowner pays can vary widely depending on location and how the property is classified. In Rice County, the 25th percentile tax bill is $2,204, while the 75th percentile is $4,950 and the 90th percentile reaches $6,738. That spread shows how much taxes can differ from one homeowner to another.
These bills affect monthly housing costs and long-term affordability. Homeowners in places with higher median tax bills, such as Northfield at $5,316, may face a much larger annual burden than those in lower-tax areas like Warsaw at $1,484.
Median Rice County Tax Bill
$3,428
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Rice County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Dennison | $247 | $1,202 | $3,264 | $5,254 | $7,308 |
| Dundas | $1,708 | $3,225 | $4,678 | $6,210 | $7,608 |
| Elko New Market | $2,192 | $3,158 | $4,043 | $4,176 | $6,077 |
| Faribault | $1,040 | $1,892 | $2,634 | $3,582 | $4,818 |
| Kenyon | $642 | $1,660 | $2,620 | $3,884 | $6,032 |
| Kilkenny | $407 | $1,172 | $2,657 | $3,718 | $4,474 |
| Lonsdale | $1,110 | $2,790 | $3,766 | $4,496 | $5,290 |
| Medford | $1,706 | $2,213 | $3,262 | $4,017 | $4,948 |
| Montgomery | $653 | $1,804 | $2,914 | $4,234 | $6,162 |
| Morristown | $578 | $1,832 | $2,796 | $3,784 | $4,970 |
| Nerstrand | $470 | $1,741 | $2,590 | $4,022 | $5,914 |
| New Prague | $827 | $2,214 | $3,481 | $4,905 | $5,844 |
| Northfield | $2,898 | $4,076 | $5,316 | $6,850 | $8,788 |
| Warsaw | $591 | $1,314 | $1,484 | $1,828 | $2,575 |
| Waterville | $188 | $790 | $1,990 | $3,070 | $4,352 |
| Webster | $889 | $2,532 | $3,840 | $5,742 | $7,676 |
| Elko | N/A | N/A | N/A | N/A | N/A |
| Lakeville | N/A | N/A | N/A | N/A | N/A |
| Waseca | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 30 |
Links | |
|---|---|
| Rice Tax Assessor | |
| Website | beacon.schneidercorp.com |