Northfield, Rice County, Minnesota Property Taxes

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

Median Northfield, MN effective property tax rate: 1.22%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Northfield, MN home value: $327,800
Median annual Northfield, MN tax bill: $3,732, $1,332 higher than the national median property tax bill of $2,400.

How are property taxes in Rice County calculated?

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

Last Updated March 1, 2025

Northfield, Rice County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.22%

Estimate Property Tax Bill

$3,999

$3,711

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

Local government entities determine tax rates, which can vary significantly within a state. Each county, including Rice County, calculates its necessary budget to provide essential services and divides it by the total value of all taxable properties in its jurisdiction. This process determines the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual procedure. Northfield, located in Rice County, MN, has an effective property tax rate of 1.22%, which is higher than the national median property tax rate of 1.02%. This rate reflects the local government's efforts to balance service provision with revenue generation. When compared to other cities in Minnesota and the national median, Northfield's property tax rate stands out as relatively high. Understanding these local variations is crucial for property owners looking to manage their tax liabilities effectively. By being informed about how these rates are set and how they compare to broader benchmarks, property owners can make more strategic decisions regarding their investments and financial planning.

Property Tax Rates Across Northfield, 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 Northfield Tax Rate

1.22%

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 Northfield, Rice County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55057	0.80%	1.02%	1.22%	1.30%	1.38%

Source: Ownwell

Property Tax Assessment Values Across Northfield, Rice County, Minnesota

When examining property taxes in Northfield, 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 Northfield. For example, the median home price in Northfield is $327,800, with tax bills ranging significantly across the county. Zip code 55057 has the highest median home price at $327,800.

Property Tax Assessment Values Across Northfield, Rice County, Minnesota

Source: Ownwell

$209,200

$353,950

$498,700

Median Northfield Market Value

$327,800

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 Northfield, Rice County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55057	$181,040	$249,100	$327,800	$421,300	$545,480

Source: Ownwell

Property Tax Bills Across Northfield, Rice County, Minnesota

In Northfield, located in Rice County, MN, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The median home price in this area is $327,800. While Minnesota’s property tax rate is competitive, Northfield homeowners often see tax bills ranging from $2,740 at the 25th percentile to $6,122 at the 90th percentile. The median tax bill in the 55057 ZIP code is $3,732, which is notably above the national median property tax bill of $2,400. Factors such as property size, location, and market trends influence these assessments, impacting homeowners' annual expenses significantly. For homeowners feeling the pinch of high property taxes, Ownwell offers a solution. By leveraging expert knowledge in property tax appeals and exemptions, Ownwell can identify opportunities for savings, potentially reducing your tax burden. Their expertise ensures that homeowners pay only their fair share, providing peace of mind and financial relief in a landscape of rising property costs.

Property Tax Bills Across Northfield, Rice County, Minnesota

Source: Ownwell

$1,145

$2,439

$3,732

Median Northfield Tax Bill

$3,732

Median Rice County Tax Bill

$2,471

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Northfield, Rice County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55057	$1,208	$2,740	$3,732	$4,850	$6,122

Source: Ownwell