Faribault County, Minnesota property tax
The median homeowner in Faribault County, Minnesota pays $1,263 a year in property tax on a home worth $120,200, an effective rate of 1.05%. The national effective rate is 0.98%.
What the rate means here
Faribault County taxes property at 1.05%, within a rounding error of the national 0.98%. That makes the $1,263 median bill mostly a statement about local house prices rather than about local tax policy.
It ranks #24 of 83 Minnesota counties by effective rate, against a statewide 1.04%, and #940 nationally. The state runs from 1.24% in Ramsey County down to 0.57% in Aitkin County.
The median home costs 1.87 times the median household income of $64,391, against 3.86 nationally, which is a comfortable ratio by American standards. 78.02% of occupied homes are owned rather than rented, and cheap housing relative to income is usually why. This is a small rural county of 13,909 people. Five-year survey estimates for places this size carry wide margins of error, so treat the figures as approximate.
The rate is derived rather than quoted. How and why.
What that costs at different home values
Arithmetic at the county effective rate, before any exemption or assessment cap.
Housing and income
| Faribault County | Minnesota | United States | |
|---|---|---|---|
| Effective property tax | 1.05% | 1.04% | 0.98% |
| Median tax bill | $1,263 | $3,184 | $2,969 |
| Median home value | $120,200 | $305,500 | $303,400 |
| Median gross rent | $837 | $1,235 | $1,348 |
| Median household income | $64,391 | $87,556 | $78,538 |
| Home price to income | 1.87× | 3.49× | 3.86× |
| Rent as share of income | 15.6% | 16.93% | 20.6% |
| Owner-occupied | 78.02% | 72.39% | 65.02% |
Source: U.S. Census Bureau, American Community Survey 2023 five-year estimates. Population 13,909.
Nearby counties of similar size
| County | Rate | Median bill | Home value |
|---|---|---|---|
| Pennington County | 1.22% | $2,300 | $188,900 |
| Wadena County | 1.04% | $1,773 | $170,500 |
| Renville County | 1.02% | $1,543 | $151,900 |
| Sibley County | 1.10% | $2,364 | $215,000 |
| Roseau County | 0.93% | $1,644 | $177,100 |
Faribault County property tax: common questions
What is the property tax rate in Faribault County, Minnesota?
The effective rate is 1.05% of home value, from a median tax bill of $1,263 against a median home value of $120,200. That is 0.07 points above the national 0.98%.
How much is property tax on a $400,000 home in Faribault County?
Roughly $4,200 a year at the county effective rate of 1.05%.
Is Faribault County expensive compared with the rest of Minnesota?
It ranks #24 of 83 Minnesota counties by effective property tax rate, and #940 of 2,826 nationally. That is 0.01 points above the Minnesota average of 1.04%.
What does housing cost in Faribault County?
The median home is worth $120,200 and median gross rent is $837 a month. Median household income is $64,391, which puts the home at 1.87 times annual income and rent at 15.6% of it.