Olmsted County, Minnesota property tax
The median homeowner in Olmsted County, Minnesota pays $3,314 a year in property tax on a home worth $304,500, an effective rate of 1.09%. The national effective rate is 0.98%.
What the rate means here
Olmsted County taxes property at 1.09%, within a rounding error of the national 0.98%. That makes the $3,314 median bill mostly a statement about local house prices rather than about local tax policy.
It ranks #15 of 83 Minnesota counties by effective rate, against a statewide 1.04%, and #865 nationally. The state runs from 1.24% in Ramsey County down to 0.57% in Aitkin County.
The median home costs 3.26 times the median household income of $93,494, close to the national 3.86. Incomes here run above the national median, which is what keeps that ratio ordinary despite the house prices. The county has 163,425 residents, which is small enough that the medians describe a reasonably coherent market.
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
| Olmsted County | Minnesota | United States | |
|---|---|---|---|
| Effective property tax | 1.09% | 1.04% | 0.98% |
| Median tax bill | $3,314 | $3,184 | $2,969 |
| Median home value | $304,500 | $305,500 | $303,400 |
| Median gross rent | $1,283 | $1,235 | $1,348 |
| Median household income | $93,494 | $87,556 | $78,538 |
| Home price to income | 3.26× | 3.49× | 3.86× |
| Rent as share of income | 16.47% | 16.93% | 20.6% |
| Owner-occupied | 70.71% | 72.39% | 65.02% |
Source: U.S. Census Bureau, American Community Survey 2023 five-year estimates. Population 163,425.
Nearby counties of similar size
| County | Rate | Median bill | Home value |
|---|---|---|---|
| Stearns County | 1.02% | $2,617 | $256,500 |
| Scott County | 1.07% | $4,195 | $393,500 |
| Wright County | 1.00% | $3,319 | $332,800 |
| St. Louis County | 1.03% | $2,142 | $208,500 |
| Carver County | 1.03% | $4,380 | $426,900 |
Olmsted County property tax: common questions
What is the property tax rate in Olmsted County, Minnesota?
The effective rate is 1.09% of home value, from a median tax bill of $3,314 against a median home value of $304,500. That is 0.11 points above the national 0.98%.
How much is property tax on a $400,000 home in Olmsted County?
Roughly $4,360 a year at the county effective rate of 1.09%.
Is Olmsted County expensive compared with the rest of Minnesota?
It ranks #15 of 83 Minnesota counties by effective property tax rate, and #865 of 2,826 nationally. That is 0.05 points above the Minnesota average of 1.04%.
What does housing cost in Olmsted County?
The median home is worth $304,500 and median gross rent is $1,283 a month. Median household income is $93,494, which puts the home at 3.26 times annual income and rent at 16.47% of it.