Echo, Yellow Medicine County, Minnesota Property Taxes
Median ECHO, MN effective property tax rate: 0.94%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median ECHO, MN home value: $135,550
Median annual ECHO, MN tax bill: $1,308, $1,092 lower than the national median property tax bill of $2,400.
How are property taxes in Yellow Medicine calculated?
Property taxes in ECHO, 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 ECHO’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in ECHO, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Echo, Yellow Medicine County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.94%
Estimate Property Tax Bill
$1,274
$1,182
Property Tax Rates Across Echo, Yellow Medicine County, Minnesota
Local government entities in Minnesota set property tax rates, which can vary significantly across the state. Each year, counties like Yellow Medicine estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the core of the annual process.
In Echo, located in Yellow Medicine County, the effective property tax rate provides an interesting comparison to other cities in Minnesota and the U.S. The median property tax rate in Minnesota is slightly below the national median of 1.02%. This indicates that Minnesota homeowners generally benefit from lower property taxes compared to the national average. Understanding how Echo's rates stack up against both state and national figures can be crucial for homeowners considering property tax appeals or exemptions. By staying informed about these rates, property owners can make better financial decisions and potentially save on their annual tax bills.
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 Echo Tax Rate
0.94%
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 Yellow Medicine County Tax Rate
1.38%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Echo, Yellow Medicine County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56237 | 0.24% | 0.47% | 0.94% | 1.66% | 2.40% |
Source: Ownwell
Property Tax Assessment Values Across Echo, Yellow Medicine County, Minnesota
When examining property taxes in ECHO, 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 Yellow Medicine County Assessor 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 Yellow Medicine 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 ECHO. For example, the median home price in ECHO is $135,550, with tax bills ranging significantly across the county. 56237 has the highest median home price at $135,550.
Property Tax Assessment Values Across Echo, Yellow Medicine County, Minnesota
Source: Ownwell
$42,400
$186,100
$329,800
Median Echo Market Value
$135,550
Median Yellow Medicine County Market Value
$131,500
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Echo, Yellow Medicine County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56237 | $22,210 | $56,375 | $135,550 | $382,525 | $1,565,730 |
Source: Ownwell
Property Tax Bills Across Echo, Yellow Medicine County, Minnesota
Median Echo Tax Bill
$1,308
Median Yellow Medicine County Tax Bill
$1,634
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Echo, Yellow Medicine County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56237 | $282 | $698 | $1,308 | $2,395 | $4,575 |
Source: Ownwell
