Otsego, Wright County, Minnesota Property Taxes

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

Median Otsego, MN effective property tax rate: 0.19%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Otsego, MN home value: $71,500
Median annual Otsego, MN tax bill: $218, $2,182 lower than the national median property tax bill of $2,400.

How are property taxes in Wright County calculated?

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

Last Updated March 1, 2025

Otsego, Wright County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.19%

Estimate Property Tax Bill

$136

$126

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

Property Tax Rates Across Otsego, Wright County, Minnesota

Local government entities determine tax rates, leading to significant variations within Minnesota. Each year, Wright County calculates its necessary budget to fund public services and divides that by the total assessed value of all taxable properties in its jurisdiction. This process results in the property tax rate for areas like Otsego. Although votes and laws play a role in setting these rates, this is the core of the annual process.

In Otsego, the effective property tax rate is notably lower than both the Minnesota state median and the national median. While the national median property tax rate stands at 1.02%, Otsego's rate is a mere 0.19%, reflecting a more affordable property tax environment. This difference can lead to significant savings for property owners in Otsego compared to other regions. For those considering property investments or relocations, Otsego presents an attractive option with its lower tax burden, allowing residents to allocate more of their resources towards other financial goals. Comparing Otsego's effective property tax rate to other cities in Minnesota and the broader U.S. landscape underscores its cost-effective appeal.

Property Tax Rates Across Otsego, Wright County, Minnesota

Source: Ownwell

0.68%

0.91%

1.13%

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 Otsego Tax Rate

0.19%

Median Effective Wright County Tax Rate

1.04%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Otsego, Wright County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55301	N/A	N/A	N/A	N/A	N/A
55330	N/A	N/A	N/A	N/A	N/A
55374	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Otsego, Wright County, Minnesota

When examining property taxes in Otsego, 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 Wright 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 Wright County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Otsego.

For example, the median home price in Otsego is $71,500, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Otsego, Wright County, Minnesota

Source: Ownwell

$271,300

$421,175

$571,050

Median Otsego Market Value

$71,500

Median Wright County Market Value

$352,100

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Otsego, Wright County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55301	N/A	N/A	N/A	N/A	N/A
55330	N/A	N/A	N/A	N/A	N/A
55374	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Otsego, Wright County, Minnesota

In Otsego, located in Wright County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $71,500, and homeowners can expect their tax bills to vary. For instance, those in the 25th percentile might see a bill around $134, while those in the 75th percentile could face a bill of approximately $632. The 90th percentile tax bill rises to about $798, indicating a range of potential costs depending on property value and tax rate. Compared to the national median property tax bill of $2,400, Otsego's figures suggest a relatively lower tax burden for many homeowners. However, even with lower bills, it's crucial for homeowners to ensure they're not overpaying. Ownwell assists by identifying potential savings through property tax appeals and exemptions, ensuring homeowners pay only their fair share. By leveraging local expertise, we help clients navigate the complexities of property taxes, potentially reducing their annual tax expenses.

Property Tax Bills Across Otsego, Wright County, Minnesota

Source: Ownwell

$2,768

$4,012

$5,255

Median Otsego Tax Bill

$218

Median Wright County Tax Bill

$3,554

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Otsego, Wright County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55301	N/A	N/A	N/A	N/A	N/A
55330	N/A	N/A	N/A	N/A	N/A
55374	N/A	N/A	N/A	N/A	N/A

Source: Ownwell