Frost, Faribault County, Minnesota Property Taxes
Median Frost, MN effective property tax rate: 1.49%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Frost, MN home value: $67,800
Median annual Frost, MN tax bill: $928, $1,472 lower than the national median property tax bill of $2,400.
How are property taxes in Faribault calculated?
Property taxes in Frost, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Frost’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Frost, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Frost, Faribault County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.49%
Estimate Property Tax Bill
$1,010
$937
Ownwell’s Frost Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Frost with just two data points.
By entering your property's estimated assessed value, our calculator applies Frost’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Faribault County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Frost, Faribault County, Minnesota
Local government entities set property tax rates, which can vary within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Frost, located in Faribault County, Minnesota, the effective property tax rate is 1.49%, aligning with both the highest and lowest median rates in the state. This rate is notably higher than the national median property tax rate of 1.02%. The median property tax bill in Minnesota is higher than the national median of $2,400, reflecting the state's relatively higher tax rates.
Comparing Frost's effective property tax rate to other cities in Minnesota, it is evident that property taxes can significantly impact homeowners. Understanding these rates and how they are calculated can help property owners make informed decisions about their investments and potential savings through property tax appeal and exemption services.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Frost Tax Rate
1.49%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Faribault County Tax Rate
1.19%
Median Effective Minnesota Tax Rate
1.11%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Frost, Faribault County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56033 | 0.57% | 0.82% | 1.49% | 1.86% | 2.64% |
Source: Ownwell
Property Tax Assessment Values Across Frost, Faribault County, Minnesota
When examining property taxes in Frost, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Faribault County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Faribault County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Frost. For example, the median home price in Frost is $67,800, with tax bills ranging significantly across the county. 56033 has the highest median home price at $67,800.
Property Tax Assessment Values Across Frost, Faribault County, Minnesota
Source: Ownwell
$36,400
$87,950
$139,500
Median Frost Market Value
$67,800
Median Faribault County Market Value
$99,500
Median Minnesota Market Value
$290,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Frost, Faribault County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56033 | $4,730 | $38,700 | $67,800 | $96,900 | $250,930 |
Source: Ownwell
Property Tax Bills Across Frost, Faribault County, Minnesota
In Frost, located in Faribault County, MN, property tax bills are determined by the assessed value of a home and the local tax rate. With a median home price of $67,800, homeowners often face tax bills that can vary widely. The median property tax bill in Frost is $928, which is significantly below the national median of $2,400. However, tax bills can range from the 25th percentile at $627 to the 90th percentile at $1,939, indicating variability based on property assessments and exemptions. These taxes are crucial for funding local services, but they can also be a burden for homeowners.
Ownwell can assist homeowners in Frost by conducting a thorough review of their property assessments to identify potential savings. By leveraging expertise in property tax appeals and exemptions, Ownwell aims to reduce the financial burden on homeowners, ensuring they pay only their fair share. This service not only helps in lowering tax bills but also provides peace of mind for property owners.
Median Frost Tax Bill
$928
Median Faribault County Tax Bill
$1,105
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Frost, Faribault County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56033 | $98 | $627 | $928 | $1,335 | $1,939 |
Source: Ownwell