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Dakota Times

Tuesday, November 5, 2024

Analysis: Dakota County effective property tax rates were lower than the national average in Q1

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Property owners in Dakota County paid 1.1% of the value of their homes in property taxes in the first quarter of 2024, which is less than 1 time the national average, according to the real estate analysis posted by Dakota Times.

The median sales price of a Dakota County home in the first quarter of 2024 was $345,000, based on data from the 865 properties sold during that time. In 2024, the median tax bill for the county was $3,758, which is 1.1% of the median value of the homes that were taxed.

This is 1 time lower than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Dakota County real estate data showed homeowners in Mendota Heights, South St. Paul, and Northfield paid the highest rates.

The above article calculates the effective property tax rate for 2024 using estimated inflation values and 2022 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Mendota Heights with some other cities belonging to Dakota County by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2024.

CityQ1 2024 SalesQ1 2024 Median PriceMedian tax 2024Effective tax rate
Mendota Heights18$385,750$4,8941.3%
South St. Paul42$268,950$3,4141.3%
Northfield6$358,500$4,7011.3%
Rosemount51$315,000$3,8791.2%
Inver Grove Heights61$271,000$3,3201.2%
Farmington65$362,700$4,4521.2%
Empire3$345,000$4,1731.2%
West St. Paul32$285,505$3,5681.2%
Eagan133$360,000$3,9011.1%
Lakeville140$390,000$4,4331.1%
Hastings55$290,000$3,2341.1%
Apple Valley124$360,250$3,6341%
Burnsville123$350,000$3,4501%
Hampton3$355,000$2,9190.8%
Randolph3$410,000$2,7180.7%
Lilydale2$616,500$3,3750.5%
Vermillion2$642,500$3,0640.5%

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