Minneapolis, MN Property Tax Rates
Compare property tax rates across 48 ZIP codes in Minneapolis, Minnesota.
Avg Tax Rate
1.15%
Avg Annual Tax
$4,341
Avg Home Value
$378,800
ZIP Codes
48
Property Tax Overview: Minneapolis, MN
Minneapolis has 48 ZIP codes with property tax data. The average effective tax rate across these ZIPs is 1.15%, which is 20% above the Minnesota average of 0.96%. Annual property taxes range from $2,798 (ZIP 55448) to $6,018 (ZIP 55405).
For a home at Minneapolis's median value of $378,800, property taxes add approximately $362/month to housing costs. Minneapolis home values are above the Minnesota median of $240,688, meaning the monthly tax impact is correspondingly higher.
Property tax rates within Minneapolis vary by 0.41 percentage points across its ZIP codes. This variation typically reflects different school district boundaries, special assessment zones, and municipal service areas within the city.
ZIP Codes in Minneapolis, MN
| ZIP Code | Effective Rate | Median Tax | Median Home Value |
|---|---|---|---|
| 55448 | 0.93% | $2,798 | $301,100 |
| 55434 | 0.93% | $2,508 | $269,600 |
| 55433 | 0.93% | $2,554 | $274,500 |
| 55449 | 0.95% | $4,036 | $422,600 |
| 55447 | 1.00% | $4,558 | $454,500 |
| 55411 | 1.01% | $2,365 | $233,500 |
| 55441 | 1.04% | $4,807 | $463,300 |
| 55424 | 1.04% | $10,001 | $959,800 |
| 55421 | 1.05% | $2,737 | $260,500 |
| 55412 | 1.06% | $2,390 | $226,400 |
| 55442 | 1.06% | $4,646 | $439,200 |
| 55431 | 1.06% | $3,765 | $354,300 |
| 55439 | 1.07% | $6,832 | $640,300 |
| 55420 | 1.08% | $3,297 | $306,600 |
| 55446 | 1.08% | $6,058 | $559,100 |
| 55432 | 1.09% | $3,049 | $278,600 |
| 55444 | 1.10% | $3,363 | $306,900 |
| 55437 | 1.10% | $3,985 | $362,600 |
| 55436 | 1.10% | $6,569 | $595,500 |
| 55438 | 1.12% | $4,566 | $406,200 |
| 55425 | 1.15% | $3,584 | $312,900 |
| 55416 | 1.15% | $5,242 | $457,300 |
| 55426 | 1.15% | $3,965 | $345,000 |
| 55423 | 1.15% | $3,682 | $320,300 |
| 55445 | 1.17% | $3,637 | $311,000 |
| 55422 | 1.18% | $3,699 | $314,200 |
| 55407 | 1.18% | $3,742 | $317,000 |
| 55430 | 1.20% | $2,928 | $243,800 |
| 55417 | 1.21% | $4,444 | $368,400 |
| 55409 | 1.21% | $4,418 | $365,500 |
| 55401 | 1.21% | $4,864 | $401,500 |
| 55443 | 1.22% | $4,207 | $346,200 |
| 55414 | 1.22% | $5,522 | $454,200 |
| 55429 | 1.22% | $3,264 | $267,900 |
| 55406 | 1.22% | $4,095 | $335,500 |
| 55410 | 1.23% | $7,323 | $597,400 |
| 55454 | 1.23% | $2,267 | $184,700 |
| 55418 | 1.23% | $4,103 | $332,500 |
| 55435 | 1.24% | $4,210 | $340,600 |
| 55403 | 1.24% | $3,526 | $285,200 |
| 55413 | 1.26% | $4,470 | $354,200 |
| 55408 | 1.26% | $4,894 | $387,500 |
| 55428 | 1.26% | $3,512 | $277,900 |
| 55404 | 1.26% | $3,721 | $294,200 |
| 55415 | 1.29% | $7,488 | $581,500 |
| 55427 | 1.29% | $4,413 | $341,700 |
| 55419 | 1.30% | $6,239 | $479,000 |
| 55405 | 1.34% | $6,018 | $450,200 |
Minneapolis vs Minnesota Average
Effective Tax Rate
20% above state average
Annual Property Tax
Median Home Value
Frequently Asked Questions
What is the average property tax rate in Minneapolis, MN?
The average effective property tax rate in Minneapolis, Minnesota is 1.15%, based on 48 ZIP codes.
How much is property tax in Minneapolis, MN?
The average median annual property tax in Minneapolis is $4,341 per year, with a median home value of $378,800.
Which ZIP code in Minneapolis has the lowest property tax rate?
ZIP code 55448 has the lowest effective tax rate in Minneapolis at 0.93%, with a median annual tax of $2,798.
How many ZIP codes are in Minneapolis, MN?
Minneapolis, Minnesota has 48 ZIP codes with property tax data available.
Which ZIP code in Minneapolis has the highest property tax rate?
ZIP code 55405 has the highest effective tax rate in Minneapolis at 1.34%, with a median annual tax of $6,018.
How do Minneapolis property taxes compare to the Minnesota average?
Minneapolis's average effective rate of 1.15% is 20% above the Minnesota state average of 0.96%.
What factors affect property tax rates between ZIP codes in Minneapolis?
Property tax rate differences within Minneapolis are typically driven by school district boundaries (which can account for 40–60% of a tax bill), special assessment zones for fire, water, or transit services, and whether a ZIP falls within city limits or an unincorporated area. Each taxing jurisdiction sets its own rate, which is why adjacent ZIP codes can have noticeably different effective rates.
Tips for Minneapolis Homeowners
- •Appeal your assessment: If your home is assessed higher than its market value, you can file a property tax appeal. Studies suggest 30–60% of properties are over-assessed. Most counties offer a free informal review process.
- •Check your exemptions: Homestead exemptions can reduce your taxable value and are available to primary residents in most states. Senior, veteran, and disability exemptions may also apply. Exemptions must typically be applied for — they are not automatic.
- •Know your assessment cycle: Minnesota reassesses properties periodically. After buying a home, your next tax bill may reflect a new assessment based on your purchase price. Budget accordingly, especially if you bought above prior assessed values.
- •Compare ZIP codes before buying: Even within Minneapolis, effective tax rates can vary significantly across ZIP codes due to different school district overlays. Use PropertyTaxByZip to compare specific ZIPs before choosing a neighborhood.
Looking for county-level property tax data? View Hennepin County on TaxByCounty.com
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.