Faribault County Property Taxes
The median property tax rate in Faribault County is 1.19%, which is significantly higher than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Faribault County, the typical annual property tax bill reaches $1,105, which is below the national median of $2,690. Property taxes in Faribault County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Faribault County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Blue Earth or another part of Faribault County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Faribault County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$1,184
Ownwell’s Faribault County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Faribault County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Faribault County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property's assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Faribault County, Minnesota
Property taxes in Faribault County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Faribault County is 1.19%, which is higher than both the Minnesota state median and the U.S. national median of 0.99%. Local government entities within Faribault County set these rates annually, and they can vary significantly between different areas within the county. Each year, Faribault County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Walters has one of the higher property tax rates in Minnesota at 2.24%, while the city of Mapleton boasts one of the lowest at 0.57%. Analyzing how Faribault County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Faribault County Tax Rate
1.19%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Faribault County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alden | 0.33% | 0.49% | 0.62% | 0.67% | 0.84% |
| Amboy | 0.65% | 0.69% | 0.76% | 0.83% | 0.87% |
| Blue Earth | 0.56% | 0.75% | 1.06% | 1.48% | 1.91% |
| Bricelyn | 0.43% | 0.68% | 0.94% | 1.40% | 2.27% |
| Delavan | 0.32% | 0.55% | 0.81% | 1.24% | 1.64% |
| Easton | 0.47% | 0.66% | 1.54% | 2.14% | 3.22% |
| Elmore | 0.68% | 1.58% | 2.14% | 2.99% | 4.23% |
| Frost | 0.57% | 0.82% | 1.49% | 1.86% | 2.64% |
| Granada | 0.41% | 0.83% | 0.94% | 1.10% | 1.37% |
| Huntley | 0.98% | 1.02% | 1.15% | 1.37% | 2.00% |
| Kiester | 0.70% | 1.15% | 1.51% | 1.94% | 2.49% |
| Mapleton | 0.29% | 0.41% | 0.57% | 0.71% | 0.78% |
| Minnesota Lake | 0.63% | 0.78% | 1.09% | 1.32% | 1.51% |
| New Richland | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| Walters | 0.49% | 0.69% | 2.24% | 4.44% | 6.43% |
| Wells | 0.63% | 0.89% | 1.33% | 1.71% | 2.06% |
| Winnebago | 0.49% | 0.72% | 1.10% | 1.57% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Faribault County, Minnesota
In Faribault County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Faribault County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Faribault County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Wells has the highest median tax bill at $1,326, while Huntley has the lowest at $568. Being aware of these valuation processes in Faribault County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Faribault County, Minnesota
Source: Ownwell
$36,400
$144,600
$252,800
Average Faribault County Assessed Value
$99,500
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Faribault County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alden | $102,040 | $117,400 | $118,000 | $201,800 | $606,260 |
| Amboy | $62,640 | $94,950 | $148,800 | $202,650 | $234,960 |
| Blue Earth | $28,960 | $72,350 | $121,700 | $188,875 | $317,900 |
| Bricelyn | $10,680 | $39,600 | $79,100 | $158,000 | $311,940 |
| Delavan | $10,020 | $42,850 | $85,000 | $223,925 | $912,130 |
| Easton | $2,920 | $30,400 | $82,100 | $182,450 | $368,120 |
| Elmore | $2,000 | $10,275 | $39,700 | $72,400 | $127,050 |
| Frost | $4,730 | $38,700 | $67,800 | $96,900 | $250,930 |
| Granada | $3,080 | $24,000 | $68,800 | $100,100 | $276,680 |
| Huntley | $4,660 | $25,800 | $51,200 | $96,200 | $130,140 |
| Kiester | $9,470 | $35,725 | $62,200 | $103,775 | $168,090 |
| Mapleton | $113,600 | $141,500 | $252,800 | $548,575 | $908,530 |
| Minnesota Lake | $17,020 | $83,900 | $139,500 | $213,500 | $286,100 |
| New Richland | $163,200 | $163,200 | $163,200 | $163,200 | $163,200 |
| Walters | $6,050 | $21,425 | $36,400 | $208,850 | $319,850 |
| Wells | $19,700 | $69,700 | $110,700 | $168,200 | $260,420 |
| Winnebago | $11,720 | $43,600 | $97,200 | $170,250 | $301,690 |
Source: Ownwell
Property Tax Bills Across Faribault County, Minnesota
In Faribault County, MN, property tax bills are calculated based on the assessed value of a home and the county's tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Various factors such as property size, location, and improvements made to the home can influence this valuation. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Faribault County, the median home price stands at $99,500. Tax bills can vary significantly, with the 25th percentile at $596 and the 75th percentile reaching $1,896. At the higher end, the 90th percentile tax bill can go up to $3,004. Within the county, Wells has the highest median tax bill at $1,326, while Huntley has the lowest at $568. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, impacting the overall quality of life for residents.
Average Faribault County Tax Bill
$1,105
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Faribault County, Minnesota
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alden | $572 | $574 | $786 | $1,908 | $1,912 |
| Amboy | $490 | $672 | $977 | $1,282 | $1,464 |
| Blue Earth | $300 | $714 | $1,320 | $2,048 | $3,048 |
| Bricelyn | $110 | $485 | $784 | $1,278 | $2,064 |
| Delavan | $61 | $450 | $705 | $1,370 | $3,106 |
| Easton | $58 | $602 | $1,130 | $1,724 | $2,684 |
| Elmore | $42 | $300 | $886 | $1,574 | $2,131 |
| Frost | $98 | $627 | $928 | $1,335 | $1,939 |
| Granada | $14 | $264 | $638 | $1,016 | $1,998 |
| Huntley | $103 | $424 | $568 | $1,113 | $1,382 |
| Kiester | $220 | $597 | $911 | $1,332 | $1,937 |
| Mapleton | $662 | $702 | $1,014 | $2,348 | $4,229 |
| Minnesota Lake | $147 | $724 | $1,284 | $2,452 | $3,498 |
| New Richland | $1,292 | $1,292 | $1,292 | $1,292 | $1,292 |
| Walters | $377 | $685 | $938 | $1,400 | $2,248 |
| Wells | $202 | $747 | $1,326 | $2,307 | $3,492 |
| Winnebago | $116 | $478 | $1,012 | $1,878 | $2,910 |
Source: Ownwell