55051 Property Tax Rate

Property owners in ZIP code 55051 (Mora, Minnesota) pay a median of $2,521/year in property taxes on homes valued at $220,000. This translates to an effective tax rate of 1.15%, which is 20% above the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 55051 is approximately $210, which factors into escrow payments on mortgages. This ZIP code is located within Kanabec County. This is $215 more than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 55051 has lower property taxes. ZIP codes with similar effective rates include 55055 (1.15%) and 55112 (1.15%).

In Mora, property taxes represent approximately 3.5% of the median household income of $71,232, providing context for the relative tax burden on homeowners in this area.

Minnesota's homestead classification system reduces your tax burden by applying a lower assessment class rate to primary residences compared to investment or commercial property. File a homestead claim with the Kanabec County Assessor by the current year's deadline to ensure your primary residence receives the homestead classification and corresponding rate reduction. Request a written confirmation from the Kanabec County Assessor that your property is coded as homestead-primary to verify the lower assessment class is in effect.