Henderson, Minnesota Property Taxes
The median property tax rate in Henderson, MN is 0.97%, slightly below the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Henderson at $450,600, the typical annual property tax bill reaches $3,994, surpassing the national median of $2,690. Property taxes in Henderson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Henderson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Henderson or another part of Le Sueur County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Henderson, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$4,371
Ownwell’s HENDERSON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HENDERSON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HENDERSON to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Henderson, Minnesota
Property taxes in Henderson, Minnesota, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Henderson is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Henderson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Henderson estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Henderson's effective property tax rate to other areas in Minnesota and the national median. For comparison, the 56044 ZIP code has the highest median property tax rate of 0.97%, while the 56044 ZIP code also has the lowest median tax rate of 0.97%. Understanding how these areas compare with Henderson provides valuable insights into the varying tax landscape across Le Sueur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Henderson Tax Rate
0.97%
Average Le Sueur County Tax Rate
1.14%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Henderson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56044 | 0.43% | 0.63% | 0.97% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Henderson, Minnesota
In HENDERSON, Minnesota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Le Sueur County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In HENDERSON, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in HENDERSON is $450,600, with tax bills ranging from $3,130 at the 25th percentile to $6,746 at the 90th percentile. The zip code 56044 has both the highest and lowest median tax bill, standing at $3,994. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in HENDERSON helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Henderson Assessed Value
$450,600
Average Le Sueur County Assessed Value
$290,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Henderson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56044 | $316,500 | $387,100 | $450,600 | $612,500 | $991,780 |
Source: Ownwell
Property Tax Bills Across Henderson, Minnesota
In Henderson, located in Le Sueur County, MN, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Henderson is $450,600, and the property tax rate in this area is influenced by both county and city levies. Homeowners in Henderson can expect their tax bills to fall within a range, with the 25th percentile tax bill at approximately $3,130 and the 75th percentile at about $4,686. For those in the 90th percentile, tax bills can reach up to $6,746. These figures indicate that property taxes in Henderson can vary significantly based on the value of the property and specific local rates. Compared to the national median property tax rate of 0.99%, Henderson's property taxes reflect the unique local economic conditions and community needs. Homeowners must consider these factors when budgeting for homeownership, as property taxes can represent a substantial annual expense.
Average Henderson Tax Bill
$3,994
Average Le Sueur County Tax Bill
$3,200
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Henderson, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56044 | $2,387 | $3,130 | $3,994 | $4,686 | $6,746 |
Source: Ownwell