Minnesota

Property Tax Rates & Rules

1.02%

Effective Rate

$3,417

Median Annual Tax

$335k

Median Home Value

Available

Homestead Exempt

Full Tax Details

Avg Effective Rate1.02%

Median Home Value$335,000

Median Annual Tax$3,417

Assessment Ratio1.00%

Homestead ExemptionYes

Senior ExemptionYes

Highest Rate CountyRamsey

Lowest Rate CountyRock

Payment ScheduleTwo installments: May 15 and October 15.

Assessment Method

Class rate for residential homestead is 1% of market value for first $500,000.

Homestead Exemption Details

Homestead Market Value Exclusion reduces taxable value; maximum exclusion is $30,400.

Senior Exemption Details

Senior Citizens Property Tax Deferral Program for 65+ with household income under $96,000.

How to Appeal Your Assessment

Contact assessor first; then local/county board of appeal, then Minnesota Tax Court.

Official Source

Minnesota Tax Authority

Last verified: 2026-03-31 · Always confirm current rates before making real estate decisions.