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Dakota Times

Tuesday, November 5, 2024

Effective property tax rate in Dakota County were lower than the national average in Q3 2023

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Property owners in Dakota County paid 1% of the value of their homes in property taxes in the third quarter of 2023, which is less than 0.9 times the national average, according to the real estate analysis posted by Dakota Times.

The median sales price of a Dakota County home in the third quarter of 2023 was $360,000, based on data from the 1,300 properties sold during that time. In 2023, the median tax bill for the county was $3,621, which is 1% of the median value of the homes that were taxed.

This is 0.9 times 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 four cities paid the highest tax rate of 1.2%.

The above article calculates the effective property tax rate for 2023 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 South St. Paul with some other cities belonging to Dakota County by their median effective property tax rate, calculated using sales and property tax data from the third quarter of 2023.

CityQ3 2023 SalesQ3 2023 Median PriceMedian tax 2023Effective tax rate
South St. Paul68$278,250$3,2901.2%
Lilydale2$277,500$3,2521.2%
Farmington69$350,000$4,2901.2%
Northfield6$380,000$4,5301.2%
Inver Grove Heights94$302,000$3,1991.1%
Empire6$382,950$4,0221.1%
West St. Paul56$320,000$3,4391.1%
Eagan183$365,500$3,7591%
Apple Valley219$362,000$3,5021%
Lakeville176$417,500$4,2721%
Hastings89$320,000$3,1161%
Rosemount78$399,500$3,7380.9%
Burnsville195$368,500$3,3240.9%
Mendota Heights41$554,500$4,7160.9%
Randolph4$319,500$2,6190.8%
Vermillion4$453,000$2,9520.7%
Castle Rock2$491,000$3,5590.7%
Hampton4$625,000$2,8130.5%

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