Property Tax in Minnesota (2026): Rates, Exemptions, and Real Numbers

Minnesota Property Tax Rates by County

Highest and lowest effective rates within Minnesota

Property Tax Calculator — Minnesota

Pre-loaded with Minnesota's 1.02% effective rate and $333,614 median price

Property Tax by City in Minnesota

Annual and monthly property tax by city, based on local median prices and the statewide effective rate

Minnesota Homestead Exemption

How Minnesota Assesses Property Values

Assessment cycle: Annual assessment by county assessors to estimated market value. Assessors must complete physical inspection of each property at least once every 5 years.

Property Tax's Impact on Your True Monthly Cost

On a $333,614 home in Minnesota

Property tax represents 10% of the true monthly cost in Minnesota.

Mortgage Calculator Including Property Tax — Minnesota

See your full PITI (principal, interest, taxes, insurance) payment

How Minnesota's Property Tax Affects Affordability

$284/month in property tax reduces the home price you can afford. Use the affordability calculator to see the real impact.

Property Tax After Refinancing in Minnesota

Refinancing changes your P&I but not your property tax. If your home was reassessed at a higher value, your tax bill increases regardless of your rate.

Frequently Asked Questions

What is the property tax rate in Minnesota?

Minnesota's effective property tax rate is 1.02%, ranking #21 nationally. The median annual property tax bill is $3,402 ($284/month). Rates range from 0.60% in Lake of the Woods County to 1.28% in Ramsey County (St. Paul). Source: Tax Foundation Property Taxes by State 2024.

Does Minnesota have a homestead exemption?

Yes — Minnesota offers a homestead exemption for primary residences. Homestead classification reduces the tax rate applied to residential property: first $500,000 of market value taxed at 1.00% class rate; value above $500,000 at 1.25%. Non-homestead property taxed at 1.25%. Homestead Market Value Exclusion: excludes a portion of value from taxation — maximum exclusion is $38,000 for homes valued at $76,000 or less, phasing out to zero at $413,800.. Apply through your county assessor's office after purchasing your home.

How often is property reassessed in Minnesota?

Minnesota reassesses property on a annual assessment by county assessors to estimated market value. assessors must complete physical inspection of each property at least once every 5 years. basis. When your property is reassessed, your tax bill changes based on the new assessed value multiplied by the applicable rate. If you believe your assessment is too high, you can appeal — most counties allow 30-90 days after receiving your assessment notice.

How is property tax calculated in Minnesota?

Property tax = Assessed Value × Mill Rate (or effective rate). In Minnesota, the effective rate is 1.02% of market value. On a $333,614 home: $333,614 × 1.02% = $3,402/year. Assessments may use a fraction of market value — the effective rate accounts for this.

Can I appeal my property tax assessment in Minnesota?

Yes. If your assessed value is higher than comparable sales in your area, you can file an appeal with your county assessment board. Steps: (1) Get your assessment notice, (2) Research comparable recent sales, (3) File an appeal by the deadline (typically 30-90 days from assessment notice). Studies show 20-40% of appeals result in a reduction. The process is free and you represent yourself — no attorney required.

Are property taxes included in my mortgage payment in Minnesota?

Most lenders require an escrow account that collects $284/month ($3,402/year ÷ 12) along with your mortgage payment, then pays the county on your behalf. If your loan-to-value is below 80%, you may be able to opt out of escrow and pay taxes directly. Note: if your assessed value rises, your escrow payment adjusts and your total monthly cost increases.

What Minnesota counties have the highest and lowest property taxes?

Minnesota's highest effective rate is in Ramsey County (St. Paul) at 1.28%. The lowest is Lake of the Woods County at 0.60%. That's a 0.68% spread — on a $333,614 home, the difference is $2,269/year.