55385 Property Tax Rate

Property owners in ZIP code 55385 (Stewart, Minnesota) pay a median of $2,174/year in property taxes on homes valued at $180,500. This translates to an effective tax rate of 1.20%, which is 26% above the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 55385 is approximately $181, which factors into escrow payments on mortgages. This ZIP code is located within McLeod County.

Compared to similar ZIP codes in Minnesota, 55385 has lower property taxes. ZIP codes with similar effective rates include 55944 (1.21%) and 56531 (1.21%).

In Stewart, property taxes represent approximately 2.9% of the median household income of $75,365, 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 — McLeod County's 1.19% effective rate underscores the importance of establishing homestead status quickly. The Homestead Credit, an income-based refund program for qualifying households, is claimed on your Minnesota state income tax return and may offset a meaningful portion of your annual tax. File your homestead application with the McLeod County Assessor's office immediately after closing.