Property owners in Hennepin County paid 1.1% of the value of their homes in property taxes in the third quarter of 2022, which is more than 1 time the national average, according to the real estate analysis posted by the North Ramsey News.
The median sales price of a Hennepin County home in the third quarter of 2022 was $375,000, based on data from the 4,196 properties sold during that time. In 2021 the median tax bill for the county was $4,220, which is 1.1% of the median value of the homes that were taxed.
This is 1 time higher than the average effective property tax rate of 1.11% in the U.S. in 2023.
The analysis of Hennepin County real estate data showed homeowners in Loretto and St. Anthony paid the highest rates.
The following table compares Loretto with some other cities belonging to Hennepin County by their median effective property tax rate, calculated using sales and property tax data from the third quarter of 2022.
| City | Q3 2022 Sales | Q3 2022 Median Price | Median tax 2022 | Effective tax rate |
|---|---|---|---|---|
| Loretto | 1 | $249,900 | $4,241 | 1.7% |
| St. Anthony | 18 | $412,450 | $6,441 | 1.6% |
| New Hope | 68 | $326,000 | $4,478 | 1.4% |
| Hopkins | 43 | $364,900 | $5,122 | 1.4% |
| Maple Plain | 5 | $304,425 | $4,282 | 1.4% |
| Greenwood | 4 | $903,250 | $12,357 | 1.4% |
| Golden Valley | 87 | $437,000 | $5,595 | 1.3% |
| Minneapolis | 1,261 | $340,000 | $4,439 | 1.3% |
| Greenfield | 18 | $402,500 | $5,405 | 1.3% |
| Independence | 14 | $467,500 | $6,039 | 1.3% |
| Bloomington | 265 | $355,000 | $4,090 | 1.2% |
| Crystal | 106 | $305,000 | $3,747 | 1.2% |
| Rogers | 53 | $428,000 | $4,939 | 1.2% |
| St. Louis Park | 176 | $389,000 | $4,638 | 1.2% |
| Robbinsdale | 82 | $310,000 | $3,642 | 1.2% |
| Richfield | 110 | $333,500 | $3,936 | 1.2% |
| Brooklyn Center | 118 | $275,000 | $3,403 | 1.2% |
| Tonka Bay | 9 | $560,000 | $6,844 | 1.2% |
| Excelsior | 6 | $666,250 | $8,145 | 1.2% |
| Brooklyn Park | 289 | $335,000 | $3,830 | 1.1% |
| Maple Grove | 288 | $410,000 | $4,350 | 1.1% |
| Corcoran | 25 | $450,000 | $5,172 | 1.1% |
| Medina | 27 | $650,000 | $7,080 | 1.1% |
| Minnetonka | 176 | $499,900 | $5,302 | 1.1% |
| Osseo | 6 | $316,000 | $3,570 | 1.1% |
| Plymouth | 269 | $485,000 | $4,982 | 1% |
| Minnetrista | 45 | $520,000 | $5,167 | 1% |
| Dayton | 20 | $495,000 | $4,711 | 1% |
| Mound | 36 | $354,950 | $3,422 | 1% |
| Eden Prairie | 197 | $505,000 | $5,213 | 1% |
| Edina | 173 | $750,000 | $7,831 | 1% |
| Champlin | 83 | $365,000 | $3,692 | 1% |
| Wayzata | 25 | $900,000 | $8,971 | 1% |
| Woodland | 2 | $1,063,250 | $10,979 | 1% |
| Deephaven | 13 | $910,000 | $8,520 | 0.9% |
| Shorewood | 25 | $715,000 | $6,511 | 0.9% |
| Orono | 32 | $855,000 | $7,537 | 0.9% |
| Hanover | 3 | $600,000 | $5,300 | 0.9% |
| Long Lake | 8 | $463,500 | $4,149 | 0.9% |
| Spring Park | 7 | $800,000 | $5,829 | 0.7% |
| Minnetonka Beach | 3 | $2,350,000 | $12,632 | 0.5% |
