Property Tax & Income in Hennepin County, Minnesota
Hennepin County has an effective property tax rate of 1.14%. On the median home value of $392,900, that's roughly $4,480 per year. Median household income is $97,653.
What you'll pay, at a glance
Property taxes are the largest local tax most homeowners pay. The effective rate measures the real tax bill as a share of home value — a more useful number than the nominal “mill rate,” because assessment practices vary county to county.
| Metric | Hennepin County | Minnesota (state context) |
|---|---|---|
| Effective property tax rate1 | 1.14% | 0.98% |
| Median home value1 | $392,900 | — |
| State income tax3 | top rate 9.85% | top rate 9.85% |
| State sales tax3 | 8.14% combined | 8.14% combined |
How this is calculated
The effective property tax rate is the median real-estate tax bill divided by the median home value — both for owner-occupied homes, from the U.S. Census Bureau's American Community Survey (ACS 5-year estimates)1. Median income is also from the ACS1. Federal and state income-tax figures use IRS2 and Tax Foundation3 data.
About Hennepin County, MN
In Hennepin County, Minnesota, the median home value of $392,900 comes with a median annual property tax bill of $4,480, based on an effective rate of 1.140%. That rate runs above Minnesota's statewide median of 0.985% and ranks 8th among the state's 87 counties, so buyers should expect somewhat higher taxes than in much of Minnesota. Nationally, the picture shifts: the median effective rate is 0.794%, making Hennepin County's burden steeper than what many American homeowners pay. Against local incomes, though, the cost looks less daunting — median household income sits at $97,653, with per-capita income at $59,401. Minneapolis anchors the county, alongside Eden Prairie and Hopkins. For anyone weighing a purchase, the trade-off is clear: a comparatively pricey housing stock paired with tax rates above both state and national norms, offset partly by strong earnings across the area.