55063 Property Tax Rate

Property owners in ZIP code 55063 (Pine City, Minnesota) pay a median of $2,271/year in property taxes on homes valued at $239,000. This translates to an effective tax rate of 0.95%, which is near the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 55063 is approximately $189, which factors into escrow payments on mortgages. This ZIP code is located within Pine County.

Compared to similar ZIP codes in Minnesota, 55063 has lower property taxes. ZIP codes with similar effective rates include 55076 (0.95%) and 55321 (0.95%).

In Pine City, property taxes represent approximately 3.0% of the median household income of $74,854, providing context for the relative tax burden on homeowners in this area.

Minnesota's homestead classification reduces your taxable market value and applies a lower tax class rate to primary residences — register with the Pine County Assessor upon purchase to lock in this benefit. The Homestead Credit, an income-based refund available to qualifying homeowners, is claimed on your Minnesota state income tax return and may offset a significant portion of your annual tax. File your homestead designation with the Pine County Assessor's office immediately after closing.