Watch your mailbox for two property tax notices:
#1 Market valuation notice from the city, which affects taxes paid in 2027.
Minnetonka’s residential properties increased in value in 2025 for single-family homes, townhouses, condominiums and apartments. The median Minnetonka home value increased to $549,000. Multifamily apartment value saw a 5.3 percent increase thanks to new construction.
Average 2026 property value change by type*
- Single-family homes – 6.6 percent increase
- Townhouses – 2.1 percent increase
- Condominiums – 1.2 percent increase
- Apartments – 5.3 percent increase
- Industrial – 1.1 percent increase
- Commercial – 1.4 percent increase
*As submitted to Hennepin County. Individual properties may vary greatly, and adjustments vary by market.
What if I don’t agree with my property’s market value?
Contact the assessing team at 952-939-8220. The staff will review property records and sales information with you. The appraiser may or may not change your market value. If not, you have the right to appeal by April 3, 2026. Learn more about market value in the city.
#2 Property tax bill for 2026 from Hennepin County, which must be paid this year.
The city accounts for less than one-third of a homeowner’s total property tax bill. The rest includes taxes for your school district, county and other jurisdictions.
Do I qualify for a property tax refund?
The state offers regular and special property tax refund programs to assist homeowners.
- Regular property tax refund available to homeowners whose household income was less than $142,490 in 2025.
- Special property tax refund available to homeowners whose property tax increased by more than 12 percent from 2025 to 2026. Additional requirements may apply.
Visit revenue.state.mn.us/property-tax-refund to learn more about these programs, as well as a senior citizens property tax deferral and foreclosure preventing counseling.
