Total Tax Burden in Minneapolis, MN
Living in Minneapolis with the median household income of $63,507, your estimated total tax burden — including federal income tax, FICA, property tax, and sales tax — is approximately $19,361, an effective rate of 30.5%.
Federal Income Tax (est.)
$8,891
14.0% of income
FICA (SS + Medicare)
$4,858
7.6% of income
Property Tax
$3,828
1.16% effective rate
Sales Tax (est.)
$1,784
8.03% rate
Total Estimated Tax Burden
$19,361
Effective Rate
30.5%
Based on median income of $63,507, median home price of $330,000, and estimated taxable spending of $22,227. Actual taxes vary by individual circumstances. Use our calculators for a personalized estimate.
Tax Details for Minneapolis
Minneapolis residents face a combined local sales tax rate of 8.03%. This is a moderate sales tax rate that includes both state and local components.
Property taxes on the median-priced home of $330,000 would cost approximately $3,828 per year, or $319/month. The effective rate of 1.16% is close to the national median.
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These estimates are based on median values. Use our Total Tax Burden Calculator for a breakdown based on your actual income, home value, and spending.
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