Madelia, Watonwan County, Minnesota Property Taxes

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

Median Madelia, MN effective property tax rate: 1.12%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Madelia, MN home value: $171,250
Median annual Madelia, MN tax bill: $1,783, $617 lower than the national median property tax bill of $2,400.

How are property taxes in Watonwan County calculated?

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

Last Updated March 1, 2025

Madelia, Watonwan County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.12%

Estimate Property Tax Bill

$1,918

$1,780

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

Property Tax Rates Across Madelia, Watonwan County, Minnesota

Local government entities set tax rates, which can vary widely within a state. This variation is due to each county's annual budget estimation process. Counties determine their required budget to provide necessary services and divide that by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.

In Madelia, located in Watonwan County, the effective property tax rate stands at 1.12%, aligning closely with the state's median rate. This rate is slightly above the national median property tax rate of 1.02%. When comparing Madelia’s rate to other cities in Minnesota, it remains consistent, indicating a balanced approach to property taxation within the region. The local rate reflects the county's fiscal strategies and commitment to maintaining essential services without imposing an excessive tax burden on property owners. Understanding these rates can help property owners make informed decisions about their investments and potential tax liabilities.

Property Tax Rates Across Madelia, Watonwan County, Minnesota

Source: Ownwell

0.27%

1.13%

1.99%

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 Madelia Tax Rate

1.12%

Median Effective Watonwan County Tax Rate

1.02%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Madelia, Watonwan County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56062	0.45%	0.77%	1.12%	1.30%	1.48%

Source: Ownwell

Property Tax Assessment Values Across Madelia, Watonwan County, Minnesota

When examining property taxes in Madelia, 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 Watonwan 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.

In Watonwan 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 Madelia.

For example, the median home price in Madelia is $171,250, with tax bills ranging significantly across the county. The zip code 56062 has the highest median home price at $171,250.

Property Tax Assessment Values Across Madelia, Watonwan County, Minnesota

Source: Ownwell

$35,100

$277,700

$520,300

Median Madelia Market Value

$171,250

Median Watonwan County Market Value

$150,750

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Madelia, Watonwan County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56062	$47,950	$107,325	$171,250	$262,025	$435,050

Source: Ownwell

Property Tax Bills Across Madelia, Watonwan County, Minnesota

In Madelia, located in Watonwan County, MN, property tax bills are determined by assessing the property's estimated market value and applying the local tax rate. The median home price in Madelia is $171,250, influencing the property tax bill. Property taxes are crucial for funding local services like schools and emergency services, but they can also be a significant financial burden for homeowners. In Madelia, the median property tax bill is $1,783, which is below the national median of $2,400. However, tax bills can vary, with the 25th percentile at $1,014 and the 75th percentile at $2,684, reflecting differences in property values and tax rates. Homeowners in Madelia can potentially reduce their property tax bills by appealing their assessed value. Ownwell offers expert property tax appeal services, helping homeowners navigate the complexities of the appeals process, ensuring fair assessments, and potentially lowering their tax bills. By leveraging Ownwell's expertise, homeowners can achieve significant savings on their property taxes.

Property Tax Bills Across Madelia, Watonwan County, Minnesota

Source: Ownwell

$782

$1,753

$2,724

Median Madelia Tax Bill

$1,783

Median Watonwan County Tax Bill

$1,480

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Madelia, Watonwan County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56062	$383	$1,014	$1,783	$2,684	$3,742

Source: Ownwell