Calculate using real Minneapolis data. Median home price: $320,000. Property tax rate: 1.2%.
The effective property tax rate in Minneapolis, MN is 1.2%. On the median home value of $320,000, that equals approximately $3,840 per year.
At the 1.2% effective rate, a $320,000 home in Minneapolis, MN would pay about $3,840 annually, or $320 per month.
The 1.2% rate in Minneapolis, MN is above the national average of roughly 1.1%.