Q: When are property taxes due in Faribault County for the current fiscal year?
A: Real estate taxes are generally due in two installments: first half by May 15th and second half by October 15th. Personal property tax on manufactured homes has the first half due by August 31st.
Q: What homestead credit is available and how do I apply?
A: The Homestead Market Value Credit limits annual assessment increases and reduces net tax capacity. You must file an application with the county assessor by December 15th following the assessment year. This credit caps growth rather than reducing your property's market value.
Q: Are there other tax credits available that require application?
A: Yes, including disabled veteran credits, senior citizen property tax deferral (application due by November 1st), and agricultural homestead credits. All require separate applications and have specific eligibility requirements and deadlines.
Q: How often are properties assessed in Faribault County?
A: Minnesota law requires annual assessment of all property. The county assessor reviews market sales and may physically inspect properties on a rotating cycle or when improvements are made.
Q: What is the penalty for late property tax payments?
A: Minnesota law imposes penalties and interest on late payments. Interest accrues from the due date, and additional penalties may apply for significantly delinquent payments.
Q: Can I pay property taxes online?
A: Yes, Faribault County typically offers online payment options through their official website. Contact the county treasurer's office for current online payment methods and any associated fees.
Q: How do special district taxes affect my bill?
A: Properties may be subject to additional levies from fire districts, school districts, watershed districts, or other special purpose districts. Your tax statement will itemize all applicable district taxes.
Q: How do I appeal my property assessment?
A: Assessment appeals must be filed by April 30th with the county board of equalization. If unsatisfied with that decision, you can petition the Tax Court by April 30th of the following year.
Q: What if my property spans multiple taxing districts?
A: Properties located in multiple districts will be taxed proportionally based on the value located within each district's boundaries. The county assessor determines the allocation.
