55016 Property Tax Rate

Property owners in ZIP code 55016 (Cottage Grove, Minnesota) pay a median of $3,838/year in property taxes on homes valued at $358,800. This translates to an effective tax rate of 1.07%, which is 12% above the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 55016 is approximately $320, which factors into escrow payments on mortgages. This ZIP code is located within Washington County. This is $1,532 more than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 55016 has lower property taxes. ZIP codes with similar effective rates include 55305 (1.07%) and 55767 (1.07%).

In Cottage Grove, property taxes represent approximately 3.2% of the median household income of $121,295, providing context for the relative tax burden on homeowners in this area.

Minnesota's homestead classification system taxes primary residences at a lower class rate than rental or commercial property, providing automatic tax savings without a separate filing. Washington County assessments change annually based on market value with no cap, so contact the Washington County Assessor after closing to verify your assessment and understand how the homestead rate (typically 1.15% vs. 1.4%+ for non-homestead) applies to your property. Request a homestead classification confirmation letter to ensure your primary residence status is properly coded in the county assessment system.