Minneapolis, MN variant. This is a Minneapolis, MN-specific version of the Property Tax Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Property Tax Calculator.
Minneapolis property tax runs about 1.36% of value - roughly $4,352/year on the $320,000 median home.
Property tax in Minneapolis
Tax = assessed value × local rate. The 1.36% effective rate captures Minneapolis's blend of county, city, and school levies.
On the $320,000 median home that's $4,352/year ($363/month), usually escrowed with your mortgage.
About Minneapolis, MN
Minneapolis applies Minnesota state income and sales taxes.
Minneapolis offers moderate home prices for a major metro.
Minneapolis hosts numerous corporate headquarters across retail, food, and finance, with a cost of living above the national average.
Worked example: $320,000 home
$320,000 × 1.36% = $4,352/year. A $600,000 Minneapolis home would owe about $8,160.
Quick reference
- Median home value: $320,000
- Median rent: $1,700/mo
- Median household income: $76,332
- Local sales tax: 8.025%
- Effective property tax rate: 1.36%
- Cost of living index: 109 (US avg = 100)
Frequently Asked Questions
What is the property tax rate in Minneapolis?
About 1.36% of market value per year.
How much property tax on a median Minneapolis home?
Roughly $4,352 per year.