Owatonna, Steele County, Minnesota Property Taxes
Property Taxes in Owatonna, Minnesota
Median Owatonna, Minnesota effective property tax rate: 1.34%, significantly higher than the national median of 1.02%, and higher than the Minnesota state median of 1.13%.
Median Owatonna, Minnesota home value: $259,000
Median annual Owatonna, Minnesota tax bill: $3,188, higher than the national median property tax bill of $2,400.
How are property taxes in Steele County calculated?
Property taxes in Owatonna, Minnesota 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 Owatonna's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Owatonna, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Owatonna, Steele County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.34%
Estimate Property Tax Bill
$3,471
$3,221
How Does the Owatonna Property Tax Calculator Work?
Use this Owatonna property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Owatonna's median effective tax rate of 1.34% — based on actual property records in Steele County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessor uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Owatonna's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Owatonna: rates range from 1.34% in 55060 to 1.34% in 55060, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Owatonna.
About Owatonna Property Taxes
About Property Taxes in Owatonna, Steele, Minnesota
Owatonna's median effective property tax rate of 1.34% is higher than the Minnesota state median of 1.13% and higher than the national median of 1.02%. This rate reflects the Steele County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Owatonna. Homeowners in the 55060 ZIP code carry a median effective rate of 1.34%, while those in the same ZIP code pay 1.34%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Steele County. Understanding which part of Owatonna you live in can make a meaningful difference to your annual tax bill.
Owatonna homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the April 30, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Owatonna, Steele County, Minnesota
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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 Owatonna's effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.
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 Owatonna Tax Rate
1.34%
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 Steele County Tax Rate
1.28%
Median Effective Minnesota Tax Rate
1.13%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Owatonna, Steele County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55060 | 0.59% | 1.16% | 1.34% | 1.41% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Owatonna, Steele County, Minnesota
When examining property taxes in Owatonna, Minnesota, 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 Steele County assessment process 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 Steele County are sent in March each year and typically reach your mailbox by the middle of the month. 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.
For example, the median home price in Owatonna is $259,000, with a median tax bill of $3,188. That is higher than the national median property tax bill of $2,400. The highest median home price in the county is in 55060 at $259,000.
Property Tax Assessment Values Across Owatonna, Steele County, Minnesota
Source: Ownwell
$148,000
$275,800
$403,600
Median Owatonna Market Value
$259,000
Median Steele County Market Value
$260,100
Median Minnesota Market Value
$304,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Owatonna, Steele County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55060 | $138,500 | $197,000 | $259,000 | $349,800 | $477,200 |
Source: Ownwell
Property Tax Bills Across Owatonna, Steele County, Minnesota
Property tax bills in Owatonna are calculated by applying the local tax rate to a home’s assessed market value, then adjusting for exemptions or other qualifying factors. The assessed value is based on what the property is worth in the local market, not what the owner originally paid. For homeowners, this means a higher assessed value can lead to a larger tax bill, even if the home has not changed much physically.
In Steele County, the median home price is $259,000, and the median property tax bill is $3,188. That is above the national median property tax bill of $2,400 and higher than the national median property tax rate of 1.02%. Bills can vary widely, with the 25th percentile at $2,284 and the 75th percentile at $4,327. At the 90th percentile, homeowners pay $5,642, showing how assessment differences can significantly affect what a homeowner owes each year.
Median Owatonna Tax Bill
$3,188
Median Steele County Tax Bill
$2,970
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Owatonna, Steele County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55060 | $1,280 | $2,284 | $3,188 | $4,327 | $5,642 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 30 |
Links | |
|---|---|
| Steele Tax Assessor | |
| Website | tax.cptmn.us |