New York vs Minnesota Taxes: Income, Property & Sales

Does New York or Minnesota have lower taxes? We answer that in a variety of ways below:

New York vs Minnesota Income Tax Comparison

	New York	Minnesota
Income Tax Rates & Thresholds	4.00%: $0-$8,500 4.50%: $8,501-$11,700 5.25%: $11,701-$13,900 5.85%: $13,901-$80,650 6.25%: $80,651-$215,400 6.85%: $215,401-$1,077,550 9.65%: $1,077,551-$5,000,000 10.30%: $5,000,001-$25,000,000 10.90%: $25,000,001	5.35%: $0-$28,080 6.80%: $28,081-$92,230 7.85%: $92,231-$171,220 9.85%: $171,221+
Median Income	$75,910	$90,390
Income Tax Paid On Median Household Income	$13,227	$17,516
Income After Tax Based on Median Household Income	$62,683	$72,874

Top Accounting Software:

New York vs Minnesota Property Tax Comparison

	New York	Minnesota
Average Property Tax Rate	1.26%	0.90%
Average House Price By State	$421,274	$336,279
Average Property Tax Owed Per Year	$5,308	$3,027
Income After Income Taxes & Property Taxes Based On Median State Household Income	$57,375	$69,847

New York vs Minnesota Sales Tax Comparison

	New York	Minnesota
Average State Sales Tax	4.00%	6.88%
Average Local Sales Tax Across the State	4.52%	0.61%
Average Combined Sales Tax Rate	8.52%	7.49%
Maximum Amount of Sales Tax Paid Based on Median Household Income	$4,505	$4,867
Maximum Disposable Income Based on Median Household Income	$52,870	$64,980

After Tax Comparison Earning $40,000 Per Year Filing As Single

	New York	Minnesota
Income Tax Owed	$4,699	$4,490
After Tax Income	$35,301	$35,510
Income After Income & Property Tax	$29,993	$32,483
Maximum Disposable Income After Income, Property & Sales Taxes	$27,638	$30,220

After Tax Comparison Earning $60,000 Per Year Filing As Single

	New York	Minnesota
Income Tax Owed	$8,796	$8,763
After Tax Income	$51,204	$51,237
Income After Income & Property Tax	$45,896	$48,210
Maximum Disposable Income After Income, Property & Sales Taxes	$42,293	$44,851

After Tax Comparison Earning $80,000 Per Year Filing As Single

	New York	Minnesota
Income Tax Owed	$14,366	$14,523
After Tax Income	$65,634	$65,477
Income After Income & Property Tax	$60,326	$62,450
Maximum Disposable Income After Income, Property & Sales Taxes	$55,590	$58,099

After Tax Comparison Earning $100,000 Per Year Filing As Single

	New York	Minnesota
Income Tax Owed	$19,982	$20,283
After Tax Income	$80,018	$79,717
Income After Income & Property Tax	$74,710	$76,690
Maximum Disposable Income After Income, Property & Sales Taxes	$68,844	$71,347

After Tax Comparison Earning $100,000 Per Year Filing As Married Filing Jointly

	New York	Minnesota
Income Tax Owed	$12,962	$12,931
After Tax Income	$87,038	$87,069
Income After Income & Property Tax	$81,730	$84,042
Maximum Disposable Income After Income, Property & Sales Taxes	$75,313	$78,186

After Tax Comparison Earning $150,000 Per Year Filing As Married Filing Jointly

	New York	Minnesota
Income Tax Owed	$25,942	$26,386
After Tax Income	$124,058	$123,614
Income After Income & Property Tax	$118,750	$120,587
Maximum Disposable Income After Income, Property & Sales Taxes	$109,427	$112,185

After Tax Comparison Earning $200,000 Per Year Filing As Married Filing Jointly

	New York	Minnesota
Income Tax Owed	$39,956	$40,903
After Tax Income	$160,044	$159,097
Income After Income & Property Tax	$154,736	$156,070
Maximum Disposable Income After Income, Property & Sales Taxes	$142,587	$145,195

After Tax Comparison Earning $250,000 Per Year Filing As Married Filing Jointly

	New York	Minnesota
Income Tax Owed	$55,000	$56,747
After Tax Income	$195,000	$193,253
Income After Income & Property Tax	$189,692	$190,226
Maximum Disposable Income After Income, Property & Sales Taxes	$174,799	$176,971

FAQ

Does New York or Minnesota have lower income taxes?

New York’s income tax falls into the following range:

• 4.00%: $0-$8,500
• 4.50%: $8,501-$11,700
• 5.25%: $11,701-$13,900
• 5.85%: $13,901-$80,650
• 6.25%: $80,651-$215,400
• 6.85%: $215,401-$1,077,550
• 9.65%: $1,077,551-$5,000,000
• 10.30%: $5,000,001-$25,000,000
• 10.90%: $25,000,001

Whereas Minnesota’s income tax is the following

• 5.35%: $0-$28,080
• 6.80%: $28,081-$92,230
• 7.85%: $92,231-$171,220
• 9.85%: $171,221+

Does New York or Minnesota have lower property taxes?

New York has an average property tax rate of 1.26%

In comparison, Minnesota has an average property tax rate of 0.90%

Does New York or Minnesota have lower sales taxes?

New York has a state sales tax rate of 4.00% and an average local rate of 4.52% for a combined total rate of 8.52%.

In contrast, Minnesota has a state sales tax rate of 6.88% and an average local rate of 0.61% for a combined total rate of 7.49%.

Do you get to keep more money in New York or Minnesota?

Based on median household income after income, property and sales taxes New York gives you a maximum amount of disposable income of $52,870

In comparison, Minnesota gives you $64,980.

More Comparisons:

New York vs South Carolina
New York vs Alabama
New York vs Louisiana
New York vs Kentucky
New York vs Oregon

Sources:

https://en.wikipedia.org/wiki/State_income_tax#Rates_by_jurisdiction

https://www.bankrate.com/real-estate/property-tax-by-state/#by-state

https://fred.stlouisfed.org/release/tables?eid=259515&rid=249

https://www.fool.com/the-ascent/research/average-house-price-state/

https://taxfoundation.org/data/all/state/2022-sales-taxes/

https://www.forbes.com/advisor/income-tax-calculator/