Hibbing, Itasca County, Minnesota Property Taxes

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

Median Hibbing, MN effective property tax rate: 1.06%, slightly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Hibbing, MN home value: $103,700
Median annual Hibbing, MN tax bill: $1,099, $1,301 lower than the national median property tax bill of $2,400.

How are property taxes in Itasca County calculated?

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

Last Updated March 1, 2025

Hibbing, Itasca County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.06%

Estimate Property Tax Bill

$1,099

$1,020

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

Property Tax Rates Across Hibbing, Itasca County, Minnesota

Local government entities are responsible for setting tax rates, which can differ significantly across a state. The process involves each county estimating its annual budget needed to provide public services and then dividing this amount by the total assessed value of all taxable properties within the county. This calculation results in the property tax rate. Although votes and legislation play a role in determining tax rates and budgets, this is the essence of the yearly procedure. In Hibbing, located in Itasca County, the effective property tax rate is closely aligned with the highest and lowest median tax rates within the county, reflecting a consistent approach to property taxation. When compared to the national median property tax rate of 1.02%, Hibbing's rate is slightly higher, suggesting a relatively higher property tax burden for residents. This comparison highlights the importance of understanding local tax rates and their implications on property owners.

Property Tax Rates Across Hibbing, Itasca County, Minnesota

Source: Ownwell

0.58%

1.01%

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 Hibbing Tax Rate

1.06%

Median Effective Itasca County Tax Rate

0.93%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hibbing, Itasca County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55746	0.85%	1.01%	1.06%	1.09%	1.17%

Source: Ownwell

Property Tax Assessment Values Across Hibbing, Itasca County, Minnesota

When examining property taxes in Hibbing, 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 Itasca 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.

Assessment notices:

In Itasca County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Hibbing.

For example, the median home price in Hibbing is $103,700, with tax bills ranging significantly across the county. Zip code 55746 has the highest median home price at $103,700.

Property Tax Assessment Values Across Hibbing, Itasca County, Minnesota

Source: Ownwell

$63,650

$153,175

$242,700

Median Hibbing Market Value

$103,700

Median Itasca County Market Value

$169,300

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hibbing, Itasca County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55746	$35,000	$52,800	$103,700	$205,400	$319,200

Source: Ownwell

Property Tax Bills Across Hibbing, Itasca County, Minnesota

In Hibbing, located in Itasca County, MN, property tax bills are determined based on the assessed value of a home, which is distinct from its market value. The median home price in this area is $103,700. The local tax authorities apply a specific tax rate to this assessed value to calculate the annual property tax bill. The median property tax bill in Hibbing is $1,099, which is significantly lower than the national median of $2,400. This suggests that homeowners in Hibbing may have a relatively lighter tax burden compared to the national average. However, property tax bills can vary within the city, with the 25th percentile at $556 and the 90th percentile reaching $3,104. Factors such as property location, improvements, and local tax levies can influence the final tax bill. Ownwell assists homeowners in Hibbing by providing expert property tax appeal services, potentially reducing their tax liabilities. By ensuring accurate assessments and identifying possible exemptions, homeowners can achieve substantial savings on their property taxes.

Property Tax Bills Across Hibbing, Itasca County, Minnesota

Source: Ownwell

$530

$1,327

$2,124

Median Hibbing Tax Bill

$1,099

Median Itasca County Tax Bill

$1,502

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Hibbing, Itasca County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55746	$334	$556	$1,099	$1,888	$3,104

Source: Ownwell