Farmington, MN 55024

Income Statistics

Number of Returns People Average Income Average Dividend Average Social Security Average Mortgage Interest
Under $25,000 4230 5250 $10,600 $1,090
(7.33% of returns)
$1,994
(4.26% of returns)
$5,493
$25,000 to $50,000 3230 5320 $33,372 $1,477
(9.6% of returns)
$7,451
(11.46% of returns)
$5,724
$50,000 to $75,000 2490 5160 $45,787 $1,872
(16.06% of returns)
$16,002
(14.46% of returns)
$6,405
$75,000 to $100,000 2100 5650 $51,412 $1,747
(20% of returns)
$19,293
(13.81% of returns)
$7,490
$100,000 to $200,000 3920 12590 $71,422 $1,548
(28.83% of returns)
$21,955
(7.4% of returns)
$8,455
Over $200,000 620 2140 $157,741 $4,373
(54.84% of returns)
$25,100
(6.45% of returns)
$9,925
For Zip 16590 36110 $51,770

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Income Tax Rates

Rate Minimum Income Maximum Income
0.0535 0 25890
0.0705 25890 85060
0.0785 85060 160020
0.0985 160020 null

Property Tax Rates

Rate Rank (compared to Other States)
0.0111 19

Sales Tax Rates

State Rate Average Local Rate Combined Rate Rank (compared to Other States)
0.06875 0.0058 0.0746 18