Hennepin county property tax information Market value is the estimated amount that a property would sell for on the open market. Assessed value is the value that the county assigns to the property for tax purposes. In Hennepin County, assessed value is typically lower than market value. The difference between the assessed value and the market value is known as the "assessment ratio." Property taxes in Hennepin County are calculated by multiplying the assessed value of the property by the tax rate. The tax rate is set by the county board of commissioners and is based on the county's budget needs. The tax rate is expressed as a percentage, and it varies depending on the type of property. For example, the tax rate for residential property is typically lower than the tax rate for commercial property. Property tax payments in Hennepin County are due twice a year, on May 15 and October 15. Property owners can pay their taxes online, by mail, or in person at the county's property tax office. Property owners who are unable to pay their taxes on time may be eligible for a payment plan or a property tax deferral. Hennepin County offers a variety of exemptions and refunds to help reduce the property tax burden for certain groups of people. For example, the county offers a homestead exemption for property owners who use their property as their primary residence. The homestead exemption reduces the taxable value of the property by up to $30,000. Property tax information for Hennepin County is publicly available through the county's online property tax database. The database allows users to search for properties by address, parcel number, or owner name. Once a property is selected, users can view a variety of information about the property, including its legal description, market value, assessed value, and tax history. Market value is the estimated amount that a property would sell for on the open market. Assessed value is the value that the county assigns to the property for tax purposes. In Hennepin County, assessed value is typically lower than market value. The difference between the assessed value and the market value is known as the "assessment ratio." In conclusion, Hennepin County property tax information is publicly available through the county's online property tax database. Property taxes in Hennepin County are calculated by multiplying the assessed value of the property by the tax rate. Property owners can pay their taxes online, by mail, or in person at the county's property tax office. Hennepin County offers a variety of exemptions and refunds to help reduce the property tax burden for certain groups of people.