Property Tax & Income in Rice County, Minnesota
Rice County has an effective property tax rate of 0.97%. On the median home value of $320,200, that's roughly $3,115 per year. Median household income is $83,181.
What you'll pay, at a glance
Property taxes are the largest local tax most homeowners pay. The effective rate measures the real tax bill as a share of home value — a more useful number than the nominal “mill rate,” because assessment practices vary county to county.
| Metric | Rice County | Minnesota (state context) |
|---|---|---|
| Effective property tax rate1 | 0.97% | 0.98% |
| Median home value1 | $320,200 | — |
| State income tax3 | top rate 9.85% | top rate 9.85% |
| State sales tax3 | 8.14% combined | 8.14% combined |
How this is calculated
The effective property tax rate is the median real-estate tax bill divided by the median home value — both for owner-occupied homes, from the U.S. Census Bureau's American Community Survey (ACS 5-year estimates)1. Median income is also from the ACS1. Federal and state income-tax figures use IRS2 and Tax Foundation3 data.
About Rice County, MN
Rice County’s effective property tax rate of 0.973% sits just under Minnesota’s statewide median of 0.985%, placing it 49th among the state’s 87 counties — a middle-of-the-pack position rather than an outlier in either direction. Against the national median of 0.794%, however, the county runs noticeably higher. That gap reflects broader Upper Midwest patterns, where local levies tend to run above the national average. On a median home value of $320,200, the annual real-estate tax bill comes to $3,115, set against a median household income of $83,181 and per-capita income of $38,682. Faribault, the largest of the county’s principal communities, anchors much of that housing stock. For anyone weighing a move here, the takeaway is a tax climate closely aligned with its home state but steeper than what many parts of the country see.