55008 Property Tax Rate

Property owners in ZIP code 55008 (Cambridge, Minnesota) pay a median of $3,150/year in property taxes on homes valued at $267,400. This translates to an effective tax rate of 1.18%, which is 23% above the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 55008 is approximately $263, which factors into escrow payments on mortgages. This ZIP code is located within Isanti County. This is $844 more than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 55008 has higher property taxes. ZIP codes with similar effective rates include 55963 (1.18%) and 55422 (1.18%).

In Cambridge, property taxes represent approximately 3.8% of the median household income of $83,209, providing context for the relative tax burden on homeowners in this area.

Under Minnesota law, primary residences qualify for homestead classification, which taxes your home at a substantially lower rate than non-homestead property—this is your primary tax benefit as a homebuyer. Contact the Isanti County Assessor's office within 60 days of closing to verify homestead-primary classification on your property record and confirm the lower assessment class rate has been applied. Request a homestead confirmation letter from the assessor to document your primary residence status and ensure you receive the full homestead tax advantage.