Excelsior, Hennepin County, Minnesota Property Taxes

Name: Property Tax Bills Across Excelsior, Hennepin County, Minnesota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Excelsior, MN effective property tax rate: 1.16%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Excelsior, MN home value: $675,000
Median annual Excelsior, MN tax bill: $7,657, $5,257 higher than the national median property tax bill of $2,400.

How are property taxes in Hennepin County calculated?

Property taxes in Excelsior, MN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Excelsior’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Excelsior, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Excelsior, Hennepin County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.16%

Estimate Property Tax Bill

$7,830

$7,266

Ownwell’s Excelsior Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Excelsior with just two data points. By entering your property's estimated assessed value, our calculator applies Excelsior’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Hennepin County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Excelsior, Hennepin County, Minnesota

Local government entities set tax rates, which can vary widely within a state. Each year, counties estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in determining tax rates and budgets, this is the annual process in a nutshell.

Excelsior in Hennepin County, Minnesota, showcases an effective property tax rate of 1.16%, which aligns with the county's median tax rate. This rate is slightly higher than the national median property tax rate of 1.02%. When compared to other cities in Minnesota, Excelsior's tax rate is consistent, reflecting the county's uniformity in property tax assessments. However, it is important to note that the tax rates can still vary based on specific local government decisions and budgetary needs. By understanding these dynamics, property owners in Excelsior can better anticipate their tax obligations and explore potential avenues for appeals or exemptions to manage their property tax liabilities effectively.

Property Tax Rates Across Excelsior, Hennepin County, Minnesota

Source: Ownwell

0.97%

1.21%

1.45%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Excelsior Tax Rate

1.16%

Median Effective Hennepin County Tax Rate

1.26%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Excelsior, Hennepin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55331	0.90%	1.09%	1.16%	1.22%	1.28%

Source: Ownwell

Property Tax Assessment Values Across Excelsior, Hennepin County, Minnesota

When examining property taxes in Excelsior, MN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Hennepin County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Hennepin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Excelsior. For example, the median home price in Excelsior is $675,000, with tax bills ranging significantly across the county. Zip code 55331 has the highest median home price at $675,000.

Property Tax Assessment Values Across Excelsior, Hennepin County, Minnesota

Source: Ownwell

$185,500

$510,700

$835,900

Median Excelsior Market Value

$675,000

Median Hennepin County Market Value

$350,000

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Excelsior, Hennepin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55331	$368,100	$479,000	$675,000	$1,081,000	$1,982,800

Source: Ownwell

Property Tax Bills Across Excelsior, Hennepin County, Minnesota

In Excelsior, Hennepin County, MN, property tax bills are calculated based on the assessed value of a home and the local tax rate. With a median home price of $675,000, the property tax bill can vary significantly. Homeowners in the 25th percentile face a tax bill of approximately $5,290, while those in the 75th percentile see bills around $12,859. At the 90th percentile, tax bills soar to $23,942. The highest and lowest median tax bill in the area is recorded at $7,657 in the 55331 zip code, indicating a uniform tax rate across the locality. Compared to the national median property tax bill of $2,400, homeowners in Excelsior pay considerably more, reflecting higher property values and local tax rates. Such financial burdens can be challenging for homeowners, but Ownwell offers a solution. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax bills, ensuring they pay only their fair share.

Property Tax Bills Across Excelsior, Hennepin County, Minnesota

Source: Ownwell

$2,303

$6,804

$11,304

Median Excelsior Tax Bill

$7,657

Median Hennepin County Tax Bill

$4,453

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Excelsior, Hennepin County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55331	$3,900	$5,290	$7,657	$12,859	$23,942

Source: Ownwell