Mankato, Blue Earth County, Minnesota Property Taxes

Name: Property Tax Bills Across Mankato, Blue Earth County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Mankato, MN effective property tax rate: 1.07%, slightly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Mankato, MN home value: $259,600
Median annual Mankato, MN tax bill: $2,776, $376 higher than the national median property tax bill of $2,400.

How are property taxes in Blue Earth County calculated?

Property taxes in Mankato, 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 Mankato’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mankato, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Mankato, Blue Earth County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.05%

Estimate Property Tax Bill

$2,749

$2,551

Ownwell’s Mankato Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mankato with just two data points. By entering your property's estimated assessed value, our calculator applies Mankato’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 Blue Earth County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Mankato, Blue Earth County, Minnesota

Local government entities set tax rates, which can vary widely within a state. This is because each county annually 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 are involved in setting tax rates and budgets, this is the annual process in a nutshell.

In Mankato, located in Blue Earth County, MN, the effective property tax rate stands at 1.07%. This rate is notably higher than the national median property tax rate of 1.02%. Comparing this to the state median, Mankato's rate aligns with Minnesota's median, indicating a consistent approach across the state. However, the rate is still above the national median, which could impact homeowners' financial planning and decisions.

Understanding these rates is crucial for property owners as they navigate their financial commitments. By staying informed, property owners in Mankato can better anticipate their tax liabilities and explore potential savings through appeals or exemptions.

Property Tax Rates Across Mankato, Blue Earth County, Minnesota

Source: Ownwell

0.52%

1.13%

1.74%

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 Mankato Tax Rate

1.05%

Median Effective Blue Earth County Tax Rate

1.05%

Median Effective Minnesota Tax Rate

1.13%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Mankato, Blue Earth County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
56001	0.79%	0.93%	1.05%	1.12%	1.28%
56003	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Mankato, Blue Earth County, Minnesota

When examining property taxes in Mankato, 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 Blue Earth County Assessor's Office 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 Blue Earth 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 Mankato.

For example, the median home price in Mankato is $259,600, with tax bills ranging significantly across the county. Zip code 56001 has the highest median home price at $259,600.

Property Tax Assessment Values Across Mankato, Blue Earth County, Minnesota

Source: Ownwell

$188,450

$367,825

$547,200

Median Mankato Market Value

$261,800

Median Blue Earth County Market Value

$266,600

Median Minnesota Market Value

$304,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Mankato, Blue Earth County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
56001	$80,500	$187,400	$261,800	$362,150	$494,940
56003	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Mankato, Blue Earth County, Minnesota

In Mankato, located in Blue Earth County, MN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the tax bill. The median home price in Mankato is $259,600, and homeowners can expect a tax bill that varies significantly, with the 25th percentile at $1,922 and the 75th percentile reaching $3,714. The highest median tax bill in the area is $2,776, which coincides with the lowest, both found in the 56001 zip code, indicating a consistent tax rate across the region. Compared to the national median property tax bill of $2,400, Mankato's tax bills are relatively comparable. Homeowners in Mankato can benefit from Ownwell’s expertise in property tax appeals and exemption services. By analyzing property assessments and identifying potential discrepancies, Ownwell helps homeowners potentially lower their tax bills, ensuring they pay only their fair share.

Property Tax Bills Across Mankato, Blue Earth County, Minnesota

Source: Ownwell

$1,818

$2,960

$4,102

Median Mankato Tax Bill

$2,794

Median Blue Earth County Tax Bill

$2,792

Median Minnesota Tax Bill

$3,364

Median United States Tax Bill

$2,400

Property Tax Bills Across Mankato, Blue Earth County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
56001	$820	$1,926	$2,795	$3,806	$5,180
56003	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	April 30

Links
Blue Earth Tax Assessor
Website	publicaccess.blueearthcountymn.gov