Property Tax Rates & Rules
Minnesota has an average effective property tax rate of 1.02%, making it a mid-range property tax state. On a median-valued home of $335,000, the typical annual property tax bill is $3,417. Homeowners may qualify for a homestead exemption, which can reduce the taxable value of a primary residence. Homestead Market Value Exclusion reduces taxable value; maximum exclusion is $30,400. Senior citizens may qualify for additional exemptions or tax relief programs. If you believe your property is over-assessed, you have the right to appeal.
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.
What is the property tax rate in Minnesota?
Minnesota has an average effective property tax rate of 1.02%. On a home valued at $335,000, the typical annual property tax bill is approximately $3,417. Rates vary by county — Ramsey has the highest rates while Rock has the lowest.
Does Minnesota have a homestead exemption?
Yes. Minnesota offers a homestead exemption for primary residences. Homestead Market Value Exclusion reduces taxable value; maximum exclusion is $30,400.
How is property assessed in Minnesota?
Minnesota assesses property at 1.00%. Class rate for residential homestead is 1% of market value for first $500,000. The assessed value is then multiplied by the local mill rate to determine your property tax bill.
How do I appeal my property tax assessment in Minnesota?
Contact assessor first; then local/county board of appeal, then Minnesota Tax Court.
Are there senior property tax exemptions in Minnesota?
Yes. Minnesota offers property tax relief for senior citizens. Senior Citizens Property Tax Deferral Program for 65+ with household income under $96,000.
When are property taxes due in Minnesota?
Minnesota property taxes are paid on a Two installments: May 15 and October 15.. Contact your county tax collector for exact due dates and payment options for your area.
How does Minnesota property tax compare to neighboring states?
Minnesota's average effective rate of 1.02% is close to the national average of approximately 1.1%. Use the comparison table above to see how neighboring states compare.
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Official Source
Minnesota Tax Authority
Last verified: 2026-03-31 · Always confirm current rates before making real estate decisions.