Faribault County, Minnesota Property Taxes
Census Bureau ACS property tax data for Minnesota. Population: 4,814.
The median annual property tax in Faribault County is $1,263, which is 42% lower than the Minnesota state average and 34% below the national average. The effective tax rate is 1.05% on a median home value of $120,200. Property taxes represent 2.0% of the median household income in this county.
Median Annual Tax
$1,263
-42% vs State
-34% vs US
Median Home Value
$120,200
-46% vs State
-43% vs US
Effective Tax Rate
1.05%
+8% vs State
+11% vs US
With vs Without Mortgage
With Mortgage
$1,310
$109/mo
Without Mortgage
$1,220
$102/mo
Homeowners with a mortgage typically own higher-valued properties, which can result in higher tax bills.
Property Tax History
| Year | Median Tax | Effective Rate |
|---|---|---|
| 2023 | $1,263 +6.9% | 1.05% |
| 2022 | $1,181 +9.9% | 1.02% |
| 2021 | $1,075 +7.2% | 1.10% |
| 2020 | $1,003 +4.3% | 1.07% |
| 2019 | $962 | 1.07% |
Tax Burden
Tax-to-Income Ratio
2.0%
of median household income
Median Income
$64,391
per year
Monthly Tax
$105
per month
Other Counties in Minnesota
Goodhue County
Tax: $2,866/yr Rate: 1.06%
Wilkin County
Tax: $1,310/yr Rate: 0.76%
St. Louis County
Tax: $2,142/yr Rate: 1.03%
Traverse County
Tax: $1,070/yr Rate: 0.97%
Redwood County
Tax: $1,444/yr Rate: 0.96%
Scott County
Tax: $4,195/yr Rate: 1.07%
Frequently Asked Questions
What is the average property tax in Faribault County, Minnesota? ▼
The median annual property tax in Faribault County is $1,263 based on the most recent Census Bureau American Community Survey data. The effective tax rate is 1.05% on a median home value of $120,200.
How does Faribault County property tax compare to the national average? ▼
Property taxes in Faribault County are 34% below the national average of $1,923. The effective rate of 1.05% compares to 0.95% nationally.
Does having a mortgage affect property taxes in Faribault County? ▼
In Faribault County, homeowners with a mortgage pay a median of $1,310 in annual property taxes, while homeowners without a mortgage pay $1,220. This difference often reflects the value of homes rather than different tax rates.
What percentage of income goes to property taxes in Faribault County? ▼
Property taxes in Faribault County represent approximately 2.0% of the median household income of $64,391. The national benchmark is generally 2-4% of household income.
Explore More Data
Data source: U.S. Census Bureau, American Community Survey 5-Year Estimates. Property tax data reflects median amounts paid by homeowners. Effective rates are calculated as median tax divided by median home value.