Montgomery, Rice County, Minnesota Property Taxes

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

Median Montgomery, MN effective property tax rate: 0.51%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Montgomery, MN home value: $443,900
Median annual Montgomery, MN tax bill: $2,262, $138 lower than the national median property tax bill of $2,400.

How are property taxes in Rice County calculated?

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

Last Updated March 1, 2025

Montgomery, Rice County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.51%

Estimate Property Tax Bill

$2,264

$2,101

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

Property Tax Rates Across Montgomery, Rice County, Minnesota

Local government entities set tax rates, which can vary widely within a state. 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. Montgomery in Rice County, MN, has an effective property tax rate of 0.51%, which is significantly lower than the national median of 1.02%. This makes Montgomery an attractive option for property owners looking to minimize their tax burden. Compared to other cities in Minnesota, Montgomery's tax rate stands out for its affordability. This low rate can make a substantial difference in annual tax bills, offering residents financial relief compared to the national median property tax bill of $2400. For those considering a move or investment in Minnesota, Montgomery presents a compelling case with its favorable tax conditions.

Property Tax Rates Across Montgomery, Rice County, Minnesota

Source: Ownwell

0.40%

0.81%

1.22%

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 Montgomery Tax Rate

0.51%

Median Effective Rice County Tax Rate

0.89%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Montgomery, Rice County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56069	0.27%	0.32%	0.51%	0.72%	0.78%

Source: Ownwell

Property Tax Assessment Values Across Montgomery, Rice County, Minnesota

When examining property taxes in Montgomery, 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 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.

In Rice 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 Montgomery. For example, the median home price in Montgomery is $443,900, with tax bills ranging significantly across the county. Zip code 56069 has the highest median home price at $443,900.

Property Tax Assessment Values Across Montgomery, Rice County, Minnesota

Source: Ownwell

$209,200

$353,950

$498,700

Median Montgomery Market Value

$443,900

Median Rice County Market Value

$294,900

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Montgomery, Rice County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56069	$147,780	$305,150	$443,900	$638,250	$889,720

Source: Ownwell

Property Tax Bills Across Montgomery, Rice County, Minnesota

In Montgomery, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is influenced by factors such as location, size, and property condition. Montgomery, located in Rice County, has a median property tax bill of $2,262, slightly below the national median of $2,400. However, bills can vary significantly, with the 25th percentile at $1,308 and the 90th percentile reaching $4,670. This variation is due to differences in property values and specific tax rates applied by local authorities. High property taxes can place a financial strain on homeowners, making it essential to ensure accurate assessments. That's where Ownwell comes in. By offering expert property tax appeal and exemption services, Ownwell can help homeowners challenge over-assessments and potentially reduce their tax bills. This not only saves money but also ensures that homeowners pay a fair amount based on their property's true value.

Property Tax Bills Across Montgomery, Rice County, Minnesota

Source: Ownwell

$1,145

$2,439

$3,732

Median Montgomery Tax Bill

$2,262

Median Rice County Tax Bill

$2,471

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Montgomery, Rice County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56069	$446	$1,308	$2,262	$3,332	$4,670

Source: Ownwell