Hector, Sibley County, Minnesota Property Taxes

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

Median Hector, MN effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the Minnesota state median of 1.11%.
Median Hector, MN home value: $323,100
Median annual Hector, MN tax bill: $2,234, $166 lower than the national median property tax bill of $2,400.

How are property taxes in Sibley 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, Sibley County, Minnesota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.61%

Estimate Property Tax Bill

$1,971

$1,829

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 Sibley County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hector, Sibley County, Minnesota

Local government entities in Hector, located in Sibley County, Minnesota, set property tax rates that can vary significantly within the state. This variation occurs because each county annually estimates its budgetary needs to provide essential services. The total budget is then divided by the total value of all taxable property within the county, resulting in the property tax rate. While votes and laws influence the setting of tax rates and budgets, this is the fundamental process followed each year.

When comparing Hector’s effective property tax rate to other cities in Minnesota and the national landscape, it is noteworthy that Minnesota’s median property tax rate is generally below the national median of 1.02%. This suggests that residents in Hector may benefit from relatively lower property tax rates compared to many other parts of the country. Despite the complexities involved in calculating and setting these rates, understanding the local dynamics of property tax assessments can empower property owners to make informed decisions and potentially appeal their tax assessments if they believe them to be inaccurate or unfair.

Property Tax Rates Across Hector, Sibley County, Minnesota

Source: Ownwell

0.47%

1.09%

1.71%

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

0.61%

Median Effective Sibley County Tax Rate

0.81%

Median Effective Minnesota Tax Rate

1.11%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hector, Sibley County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
55342	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Hector, Sibley County, Minnesota

When examining property taxes in Hector, 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 Sibley 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 Sibley 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 Hector.

For example, the median home price in Hector is $323,100, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Hector, Sibley County, Minnesota

Source: Ownwell

$97,700

$431,725

$765,750

Median Hector Market Value

$323,100

Median Sibley County Market Value

$273,200

Median Minnesota Market Value

$290,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hector, Sibley County, Minnesota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
55342	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Hector, Sibley County, Minnesota

In Hector, located in Sibley County, MN, property tax bills are determined based on the assessed value of a property, which is then multiplied by the local tax rate. The median home price stands at $323,100, influencing the overall tax bill. Factors such as property location, improvements, and market trends play a crucial role in determining the assessed value. The tax bill for the 25th percentile is $598, while the 75th percentile sees a tax bill of $2,286, and the 90th percentile reaches $2,346. Comparatively, the national median property tax rate is 1.02%, with a median bill of $2,400, showing that Hector's tax bills can be significantly lower for many homeowners. These taxes directly impact homeowners by affecting their annual expenses and, potentially, their property's resale value. Ownwell assists homeowners by offering property tax appeal and exemption services, helping to ensure that they are not overpaying. By leveraging expertise and local market knowledge, Ownwell can identify opportunities for savings, making property taxes more manageable for homeowners.

Property Tax Bills Across Hector, Sibley County, Minnesota

Source: Ownwell

$1,348

$2,420

$3,492

Median Hector Tax Bill

$2,234

Median Sibley County Tax Bill

$2,314

Median Minnesota Tax Bill

$3,182

Median United States Tax Bill

$2,400

Property Tax Bills Across Hector, Sibley County, Minnesota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
55342	N/A	N/A	N/A	N/A	N/A

Source: Ownwell