55395 Property Tax Rate

Property owners in ZIP code 55395 (Winsted, Minnesota) pay a median of $2,714/year in property taxes on homes valued at $229,400. This translates to an effective tax rate of 1.18%, which is 24% above the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 55395 is approximately $226, which factors into escrow payments on mortgages. This ZIP code is located within McLeod County. This is $408 more than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 55395 has lower property taxes. ZIP codes with similar effective rates include 56183 (1.18%) and 56325 (1.18%).

In Winsted, property taxes represent approximately 3.7% of the median household income of $72,901, 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.