Hendrum, Norman County, Minnesota Property Taxes
Median Hendrum, MN effective property tax rate: 1.46%, significantly higher than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Hendrum, MN home value: $118,300
Median annual Hendrum, MN tax bill: $1,428, $972 lower than the national median property tax bill of $2,400.
How are property taxes in Norman County calculated?
Property taxes in Hendrum, 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 Hendrum’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hendrum, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hendrum, Norman County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.6%
Estimate Property Tax Bill
$1,843
$1,710
Property Tax Rates Across Hendrum, Norman County, Minnesota
Local government entities in Minnesota set tax rates, which can vary widely within the state. Annually, each county estimates its required budget to provide essential 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 Hendrum’s effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S. Hendrum, located in Norman County, reflects the state's median tax rate. With a rate higher than the national median of 1.02%, property owners in Hendrum may find themselves paying more in property taxes compared to other parts of the country. However, understanding these rates and how they are determined can empower homeowners to make informed decisions about property tax appeals and exemptions. By staying informed and proactive, property owners can better navigate the complexities of property taxation and potentially reduce their tax burden.
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 Hendrum Tax Rate
1.60%
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 Norman County Tax Rate
1.08%
Median Effective Minnesota Tax Rate
1.13%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hendrum, Norman County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56550 | 0.67% | 1.38% | 1.60% | 1.72% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Hendrum, Norman County, Minnesota
When examining property taxes in Hendrum, 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 Norman 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 Norman 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 Hendrum.
For example, the median home price in Hendrum is $118,300, with tax bills ranging significantly across the county. Zip code 56550 has the highest median home price at $118,300.
Property Tax Assessment Values Across Hendrum, Norman County, Minnesota
Source: Ownwell
$52,750
$124,300
$195,850
Median Hendrum Market Value
$115,200
Median Norman County Market Value
$101,600
Median Minnesota Market Value
$304,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hendrum, Norman County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56550 | $21,080 | $57,000 | $115,200 | $186,500 | $246,960 |
Source: Ownwell
Property Tax Bills Across Hendrum, Norman County, Minnesota
Median Hendrum Tax Bill
$1,526
Median Norman County Tax Bill
$1,024
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Hendrum, Norman County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56550 | $256 | $784 | $1,526 | $2,406 | $3,630 |
Source: Ownwell