55355 Property Tax Rate

Property owners in ZIP code 55355 (Litchfield, Minnesota) pay a median of $2,051/year in property taxes on homes valued at $210,200. This translates to an effective tax rate of 0.98%, which is near the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 55355 is approximately $171, which factors into escrow payments on mortgages. This ZIP code is located within Meeker County. This is $255 less than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 55355 has higher property taxes. ZIP codes with similar effective rates include 56482 (0.98%) and 55924 (0.97%).

In Litchfield, property taxes represent approximately 2.9% of the median household income of $70,878, 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 Meeker County Assessor upon purchase to lock in this benefit. The Homestead Credit, an income-based property tax refund for qualifying homeowners, is claimed on your Minnesota state income tax return. File your homestead application with the Meeker County Assessor's office immediately after closing.