55389 Property Tax Rate

Property owners in ZIP code 55389 (Watkins, Minnesota) pay a median of $2,392/year in property taxes on homes valued at $252,700. 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 55389 is approximately $199, which factors into escrow payments on mortgages. This ZIP code is located within Meeker County.

Compared to similar ZIP codes in Minnesota, 55389 has lower property taxes. ZIP codes with similar effective rates include 56315 (0.95%) and 56552 (0.95%).

In Watkins, property taxes represent approximately 2.6% of the median household income of $92,109, 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.