WELCOME! We are glad you have decided to live in Mound! There are many reasons why Mound is an exceptional place to live and you probably identified several while making your decision to move here. The most obvious might be the year-round enjoyment of the lake life, parks and trails. Another is the award winning Westonka School District.
The Community Handbook provides information on schools, businesses, the library, community programs, organizations, and even some history.
Hennepin County Homestead - If your property is your primary residence and a homestead application has been filed, you could benefit from a reduction in property taxes by having a portion of property's taxable market value 'excluded' from the amount used to calculate the property tax.
Homestead Market Value Exclusion Formula
The maximum exclusion goes to homes valued at $76,000 or less. The exclusion at that level is 40% of market value. For a $76,000 home, that means $30,400 of value is not taxable. In other words, all property taxes are applied only to the remaining $45,600 of market value. As home value increases, the portion of market value eligible for exclusion phases out and is at zero percent for homes valued at more than $413,778. Note that market values are determined in the year prior to the year in which taxes are paid. For example, values used to calculate taxes payable in 2021 were set in early 2020.