Rockford, Hennepin County, Minnesota Property Taxes
Median Rockford, MN effective property tax rate: 1.23%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Rockford, MN home value: $442,000
Median annual Rockford, MN tax bill: $5,462, $3,062 higher than the national median property tax bill of $2,400.
How are property taxes in Hennepin calculated?
Property taxes in Rockford, 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 Rockford’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rockford, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Rockford, Hennepin County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.23%
Estimate Property Tax Bill
$5,437
$5,045
Property Tax Rates Across Rockford, Hennepin County, Minnesota
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation arises because each county estimates its required budget for services annually and divides this by the total value of all taxable property in its jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially how the annual process unfolds.
In Rockford, located in Hennepin County, Minnesota, the effective property tax rate can be compared to other cities within the state and to the national median. Minnesota's median property tax rate is slightly above the national median, which is 1.02%. Understanding these differences can help property owners make informed decisions about property tax appeals and exemptions. By comparing local rates to state and national medians, property owners in Rockford can better assess whether their property tax bills are in line with expectations or if there may be grounds for an appeal.
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 Rockford Tax Rate
1.23%
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 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 Rockford, Hennepin County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55373 | 1.16% | 1.20% | 1.23% | 1.28% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Rockford, Hennepin County, Minnesota
When examining property taxes in Rockford, Minnesota, 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.
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 Rockford. For example, the median home price in Rockford is $442,000, with tax bills ranging significantly across the county. 55373 has the highest median home price at $442,000.
Property Tax Assessment Values Across Rockford, Hennepin County, Minnesota
Source: Ownwell
$185,500
$510,700
$835,900
Median Rockford Market Value
$442,000
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 Rockford, Hennepin County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55373 | $243,400 | $283,500 | $442,000 | $633,500 | $807,000 |
Source: Ownwell
Property Tax Bills Across Rockford, Hennepin County, Minnesota
Median Rockford Tax Bill
$5,462
Median Hennepin County Tax Bill
$4,453
Median Minnesota Tax Bill
$3,182
Median United States Tax Bill
$2,400
Property Tax Bills Across Rockford, Hennepin County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55373 | $2,858 | $3,388 | $5,462 | $8,033 | $10,657 |
Source: Ownwell