55735 Property Tax Rate

Property owners in ZIP code 55735 (Finlayson, Minnesota) pay a median of $1,734/year in property taxes on homes valued at $233,500. This translates to an effective tax rate of 0.74%, which is 22% below the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 55735 is approximately $145, which factors into escrow payments on mortgages. This ZIP code is located within Pine County. This is $572 less than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 55735 has lower property taxes. ZIP codes with similar effective rates include 56128 (0.74%) and 56226 (0.74%).

In Finlayson, property taxes represent approximately 2.8% of the median household income of $62,125, 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.