Mapleton, Faribault County, Minnesota Property Taxes
Median Mapleton, MN effective property tax rate: 0.57%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Mapleton, MN home value: $252,800
Median annual Mapleton, MN tax bill: $1,014, $1,386 lower than the national median property tax bill of $2,400.
How are property taxes in Faribault calculated?
Property taxes in Mapleton, 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 Mapleton’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mapleton, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mapleton, Faribault County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.57%
Estimate Property Tax Bill
$1,441
$1,337
Property Tax Rates Across Mapleton, Faribault County, Minnesota
Local government entities set tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget to provide services, then dividing that amount by the total value of all taxable property within its jurisdiction. This calculation determines 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 Mapleton, located in Faribault County, Minnesota, the effective property tax rate is a point of interest. Compared to other cities in Minnesota, Mapleton's rate can offer valuable insights for property owners. While the national median property tax rate stands at 1.02%, Minnesota's median rate is notably lower at 0.57%. This contrast highlights the variability in property tax rates across the country. For property owners in Mapleton, understanding these differences is crucial for effective financial planning. By comparing Mapleton's property tax rate to the median rates in Minnesota and the U.S., property owners can make informed decisions about their investments and potential tax liabilities.
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 Mapleton Tax Rate
0.57%
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 Mapleton, Faribault County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56065 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Mapleton, Faribault County, Minnesota
When examining property taxes in Mapleton, 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 Mapleton. For example, the median home price in Mapleton is $252,800, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Mapleton, Faribault County, Minnesota
Source: Ownwell
$36,400
$87,950
$139,500
Median Mapleton Market Value
$252,800
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 Mapleton, Faribault County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56065 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Mapleton, Faribault County, Minnesota
In Mapleton, located in Faribault County, MN, property tax bills are calculated based on the assessed value of a home. The median home price in Mapleton is $252,800, and property taxes are determined by applying the local tax rate to this assessed value. Factors such as the property's location, size, and improvements can influence the assessed value. Homeowners in Mapleton typically see annual tax bills ranging from $702 at the 25th percentile to $4,229 at the 90th percentile, with a median falling around the national median property tax bill of $2,400. These tax bills can represent a significant financial burden, especially when they exceed the national median property tax rate of 1.02%.
Ownwell can assist homeowners by identifying potential savings through appealing incorrect assessments and securing eligible exemptions. By leveraging expert knowledge and a deep understanding of local tax laws, Ownwell ensures that homeowners pay only their fair share, potentially reducing their property tax burdens and increasing their financial peace of mind.
Median Mapleton Tax Bill
$1,014
Median Faribault County Tax Bill
$1,105
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Mapleton, Faribault County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56065 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell