The rate in context
On a $400,000 home, 1.00% means roughly $4,000 per year in property tax, escrowed monthly, so it lands directly in your payment and your debt-to-income ratio.
Exemptions and notes
A homestead market value exclusion phases out above about $413,000; the state's property tax refund (circuit breaker) rebates part of the bill based on income.
Sources: Tax Foundation 2026 (2024 ACS); MN Dept. of Revenue. County-level rates vary; your county page has local detail.
Counties in Minnesota
FAQ
What is the average property tax rate in Minnesota?
The average effective property tax rate in Minnesota is about 1.00%, per Tax Foundation 2026 (2024 ACS); MN Dept. of Revenue. Individual counties vary above and below that average.
How do Minnesota property taxes affect my mortgage?
Taxes are escrowed into your monthly payment, so a higher rate directly reduces how much house you qualify for. A homestead market value exclusion phases out above about $413,000; the state's property tax refund (circuit breaker) rebates part of the bill based on income.