Hector, Renville County, Minnesota Property Taxes

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

Median Hector, MN effective property tax rate: 1.44%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Hector, MN home value: $146,300
Median annual Hector, MN tax bill: $1,583, $817 lower than the national median property tax bill of $2,400.

How are property taxes in Renville calculated?

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

Last Updated March 1, 2025

Hector, Renville County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.44%

Estimate Property Tax Bill

$2,107

$1,955

Ownwell’s Hector Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hector with just two data points. By entering your property's estimated assessed value, our calculator applies Hector’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 Renville County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hector, Renville County, Minnesota

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Hector’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.

Property Tax Rates Across Hector, Renville County, Minnesota

Source: Ownwell

0.55%

1.04%

1.52%

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 Hector Tax Rate

1.44%

Median Effective Renville County Tax Rate

1.31%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hector, Renville County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55342	0.28%	0.55%	1.44%	1.84%	2.28%

Source: Ownwell

Property Tax Assessment Values Across Hector, Renville County, Minnesota

When examining property taxes in Hector, 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 Renville County appraisal district 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 Renville 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 Hector.

For example, the median home price in Hector is $146,300, with tax bills ranging significantly across the county. Zip code 55342 has the highest median home price at $146,300.

Property Tax Assessment Values Across Hector, Renville County, Minnesota

Source: Ownwell

$75,700

$185,450

$295,200

Median Hector Market Value

$146,300

Median Renville County Market Value

$142,100

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hector, Renville County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55342	$42,600	$80,400	$146,300	$263,200	$1,009,000

Source: Ownwell

Property Tax Bills Across Hector, Renville County, Minnesota

In Hector, located in Renville County, MN, property tax bills are determined by applying the local tax rate to the assessed value of a home. The assessed value is a percentage of the home's market value, which in Hector has a median price of $146,300. The property tax rate in Hector is aligned with the national median, resulting in a typical tax bill of $1,583. This is significantly lower than the national median property tax bill of $2,400. Homeowners in Hector may find themselves paying tax bills ranging from $966 at the 25th percentile to $4,049 at the 90th percentile, depending on their property's assessed value and applicable exemptions. Ownwell can assist homeowners by reviewing their property assessments to ensure accuracy and by identifying potential exemptions or inaccuracies that could lower their tax bills. By leveraging expert knowledge and local insights, Ownwell helps homeowners maximize savings and reduce the financial burden of property taxes.

Property Tax Bills Across Hector, Renville County, Minnesota

Source: Ownwell

$964

$1,546

$2,127

Median Hector Tax Bill

$1,583

Median Renville County Tax Bill

$1,564

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Hector, Renville County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55342	$615	$966	$1,583	$2,658	$4,049

Source: Ownwell