What is the property tax rate in Minnesota?

Minnesota has an effective property tax rate of 1.04%, ranking it #20 out of 50 states. The median homeowner pays $3,184 per year.

How are property taxes calculated in Minnesota?

Property taxes in Minnesota are calculated by multiplying the assessed value of your property by the local tax rate (millage rate). The effective rate shown here (1.04%) represents the median taxes paid as a percentage of median home value across the state.

Which county in Minnesota has the lowest property taxes?

Among Minnesota's 87 counties, Yellow Medicine County has one of the lowest effective property tax rates.

Does Minnesota have a homestead exemption?

Yes, Minnesota offers several property tax exemptions including: Homestead Market Value Exclusion, Property Tax Refund, Disabled Veteran. See the exemptions section above for details.

Minnesota Property Tax Rate

2023 Data · 87 Counties

1.04%effective rate

Minnesota has an effective property tax rate of 1.04%, ranking it #20 among all 50 states. The median homeowner in Minnesota pays $3,184 per year in property taxes on a home valued at $305,500. This rate is 9% higher than the national average of 0.95%.

Effective Tax Rate📊

1.04%

#20 of 50 states

Median Tax Paid🏠

$3,184

Per year

Median Home Value💰

$305,500

2023 estimate

Total Counties📍

Population: 5,713,716

Property Tax Rates by County in Minnesota

Rank ▲	County	Effective Rate	Median Tax	Median Value
#1	Ramsey County	1.24%	$3,767	$304,900
#2	Pennington County	1.22%	$2,300	$188,900
#3	Steele County	1.21%	$2,824	$234,200
#4	Waseca County	1.19%	$2,537	$213,200
#5	Carlton County	1.17%	$2,712	$232,000
#6	Houston County	1.16%	$2,633	$226,300
#7	McLeod County	1.16%	$2,708	$233,400
#8	Hennepin County	1.15%	$4,337	$376,500
#9	Cottonwood County	1.13%	$1,737	$154,000
#10	Chisago County	1.12%	$3,668	$326,600
#11	Nicollet County	1.12%	$2,888	$258,500
#12	Clay County	1.11%	$2,854	$256,000
#13	Kanabec County	1.11%	$2,463	$221,100
#14	Sibley County	1.10%	$2,364	$215,000
#15	Olmsted County	1.09%	$3,314	$304,500
#16	Wabasha County	1.09%	$2,675	$245,800
#17	Dodge County	1.08%	$2,902	$267,500
#18	Le Sueur County	1.08%	$3,119	$287,700
#19	Scott County	1.07%	$4,195	$393,500
#20	Freeborn County	1.06%	$1,750	$164,900

How Minnesota Compares

Minnesota

1.04%

National Average

0.95%

Neighboring States

Calculate Your Property Tax in Minnesota

Property Tax Calculator

Estimate your annual property tax based on your location and home value

State

County

Home Value

$50k$2M

Apply homestead exemption ($100,000 reduction)

Estimated Annual Property Tax

$3,120

$260/month · Rate: 1.04%

Home Value

$300,000

Taxable Value

$300,000

Effective Rate

1.04%

Minnesota Property Tax Exemptions

✓

Homestead Market Value Exclusion

Up to $38,400 excluded; phases out for homes valued over $76,000

Primary residence owners

✓

Property Tax Refund

Varies based on income and property taxes paid; up to $3,310

Homeowners with income under $128,280

✓

Disabled Veteran

Up to $300,000 for 70%+ disability; $150,000 for lower ratings

Veterans with service-connected disability

Nearby States

Iowa

1.43%

North Dakota

0.99%

South Dakota

1.09%

Wisconsin

1.51%

Frequently Asked Questions

Data Source: U.S. Census Bureau, 2023 American Community Survey 5-Year Estimates. Effective tax rates are calculated by dividing median real estate taxes paid by median home value.