Minnesota

Minnesota has an effective property tax rate of 1.02%, with a median annual property tax of $3,060. Properties are assessed at 100.0% of market value and reassessed annual (january 2 assessment date). Payments are due semi-annual.

Effective Rate

1.02%

Assessment Ratio

100.0%

Median Annual Tax

$3,060

Payment Frequency

Semi-Annual

Appeal Deadline

By April 30 to local Board of Appeal and Equalization; then to County Board of Appeal by June 30

Due Dates

First half due May 15; second half due October 15

Reassessment Cycle

Annual (January 2 assessment date)

Homestead Exception

Market Value Homestead Credit: reduced tax rate on first $76,000 of value. Property Tax Refund (circuit breaker) for income-eligible homeowners.

Key Notes

Class rate system applies different rates to different property types. Homestead market value exclusion reduces taxable market value. State aids to local governments help offset property taxes. Complex classification system.

Late Penalty

3% penalty after May 15; additional 7% after June 1 (total 10%); 1% per month interest starting the following year

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