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Faribault
Faribault
Minnesota
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Faribault ( FAIR-boh) is a city in Rice County, Minnesota, United States. It is the county seat. The population was 23,352 at the 2010 census. Faribault is approximately 50 miles (80 km) south of Minneapolis and St. Paul. Interstate 35 and Minnesota State Highways 3, 21, and 60 are four of the main routes in the community. Faribault is situated at the confluence of the Cannon and Straight Rivers in southern Minnesota.

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Taxes

D

How did Minnesota earn the grade of D? We examined the state taxes based on how age friendly they are. Minnesota has a state sales tax of 6.88%. Of particular interest is that Minnesota does have taxes on social security. There are estate taxes. There are no taxes imposed on inheritance. Minnesota has an effective property tax rate of 1.17%. Weighing these taxes and other taxes most likely to impact the aging population is how Minnesota earned its state tax grade of D.

Learn more about taxes in Minnesota

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