2026 effective rate · 1.01% · near the US average (0.99%)
Minnesota Property Tax Calculator
Estimate annual and monthly property tax in Minnesota. The state's effective property tax rate is 1.01% (close to the national average, vs the US average of about 0.99%). On a $299,600 median-value home, that works out to about $3,024 per year or $252 per month.
Minnesota median home property tax
$3,026 per year
$252 per month at the median home value of $299,600
Effective rate 1.01% times $299,600 = $3,026
Minnesota property tax at common home values
| Home value | Annual property tax | Monthly | % of value |
|---|---|---|---|
| $150,000 | $1,515 | $126 | 1.01% |
| $250,000 | $2,525 | $210 | 1.01% |
| $299,600 (median) | $3,026 | $252 | 1.01% |
| $350,000 | $3,535 | $295 | 1.01% |
| $500,000 | $5,050 | $421 | 1.01% |
| $750,000 | $7,575 | $631 | 1.01% |
Uses Minnesota's 2026 effective rate (1.01%). Actual taxes vary by county and exemptions. For full PITI mortgage estimate including taxes + insurance, use the Minnesota mortgage calculator.
Minnesota property tax overview
Minnesota has a homestead market value exclusion of up to $30,400 for homes valued under $413,800. Above-average property tax rates statewide.
Minnesota's effective rate of 1.01% ranks close to the national average nationally. Median annual property tax: $3,024. Median home value: $299,600.
Minnesota vs neighboring states
| State | Effective rate | Median home | Median annual tax |
|---|---|---|---|
| Minnesota (this page) | 1.01% | $299,600 | $3,024 |
| Wisconsin | 1.63% | $231,200 | $3,796 |
| Iowa | 1.40% | $185,100 | $2,650 |
| South Dakota | 1.15% | $231,600 | $2,690 |
FAQs about Minnesota property tax
What is the property tax rate in Minnesota?
Minnesota's effective property tax rate is 1.01% (close to the national average, vs national average of ~0.99%). On a $299,600 median-value home, that's about $3,024 per year, or roughly $252 per month added to your housing cost.
How is property tax calculated in Minnesota?
Property tax = assessed value times the local mill rate (millage). The effective rate (1.01%) is what you actually pay as a percentage of market value, accounting for assessment ratios, exemptions, and millage. For a home valued at X, multiply X by 1.01% for an annual estimate.
When are property taxes due in Minnesota?
Property tax due dates vary by county within Minnesota. Most counties bill annually with either a single payment or two installments. Common payment deadlines fall in late summer (1st half) and late winter (2nd half). Check with your county tax assessor for exact dates and any escrow arrangements through your mortgage lender.
Does Minnesota have a homestead exemption?
Minnesota has a homestead market value exclusion of up to $30,400 for homes valued under $413,800. Above-average property tax rates statewide.
How does Minnesota property tax compare to neighboring states?
Minnesota's 1.01% rate compares to: Wisconsin (1.63%), Iowa (1.40%), South Dakota (1.15%). Property tax burden can vary significantly between neighboring states — moving 30 miles across a state line can change your annual tax bill by thousands.
Can I appeal my property tax assessment in Minnesota?
Yes. Every US state including Minnesota provides a formal property tax appeal process. Steps: (1) request your property's assessment record from the county assessor, (2) gather comparable sales from your neighborhood, (3) file a formal appeal within the deadline (usually 30-60 days after assessment notice). Successful appeals typically save 5-15% on annual tax bills.
How can I lower my Minnesota property taxes?
Common strategies: apply for homestead exemption (primary residence), senior or disabled exemptions if eligible, veteran's exemptions, and appeal over-assessment. Track your county's assessment notices carefully and verify the appraisal matches recent comparable home sales. Avoid major visible upgrades right before reassessment dates.