56003 Property Tax Rate
Mankato, Minnesota · Part of Nicollet County
Effective Tax Rate
1.19%
35% above state avgMedian Annual Tax
$3,113
$259/mo escrow
Estimate Your Tax
Annual Tax
$3,113
Monthly
$259
Eff. Rate
1.19%
Buyer decision brief
What ZIP 56003 means for your housing budget
Use this ZIP page to compare recurring tax burden before you compare listing prices. The numbers below are Census ZCTA estimates, so they are strongest for neighborhood comparison and weakest for parcel-specific tax planning.
Monthly escrow signal
$259/mo
Based on median annual tax paid
State context
0.24 percentage points above the Minnesota average
Minnesota average: 0.96%
Data confidence
High confidenceThe Census margin of error is $199, about 6% of the median tax estimate.
Verify before you offer
- Confirm parcel assessed value with Nicollet County assessor.
- Check homestead, senior, veteran, and disability exemptions.
- Ask whether purchase triggers reassessment or value-cap reset.
- Review school district and special assessment boundaries.
Lower-rate similar ZIPs
This is informational content, not tax, legal, or mortgage advice. Local assessor records remain the source of truth for a specific property.
Data confidence ledger
Can you trust ZIP 56003 for comparison?
ACS vintage
2019-2023 ACS 5-Year Estimates
Five-year Census ZCTA estimates.
ZCTA caveat
Census area, not parcel boundary
USPS ZIP routes and taxing districts can differ inside the same area.
Field completeness
3/3 required fields
Median tax, home value, and derived rate are present.
MOE status
Strong ACS confidence
$199 tax MOE, 6% of the median tax estimate.
Last site refresh
March 10, 2026
Dataset and page-quality audit run locally before publication.
County fallback
County advisory available
Nicollet County is used for assessor verification and broader context.
Tax bill anatomy
What can change your actual bill in ZIP 56003
Use the ZIP estimate to compare neighborhoods, then verify these parcel-level inputs before relying on a payment estimate.
Assessed value
The ZCTA median home value is $260,800, but your bill starts with the local assessed value for a specific parcel.
Effective rate
The displayed rate is 1.19%, derived from median tax paid divided by median home value.
Exemptions
Homestead, senior, veteran, disability, and local exemptions can reduce taxable value. Confirm eligibility before estimating escrow.
Reassessment
A purchase can change assessed value depending on Minnesota and county rules. Ask how sale price affects the next assessment cycle.
Escrow impact
The median tax paid in this ZCTA equals about $259 per month before insurance, HOA dues, or special assessments.
Assessor verification
Nicollet County assessor or tax collector records are the source of truth for parcel taxes, appeal windows, and exemptions.
How ZIP 56003 Compares
Median Annual Property Tax
ZIP 56003
1.19%
Effective rate
Minnesota Avg
0.96%
Effective rate
National Avg
1.10%
Effective rate
State Ranking
Property Tax Rank in Minnesota
Higher than 89% of ZIP codes in Minnesota(89th percentile, 849 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 56003
Property owners in ZIP code 56003 (Mankato, Minnesota) pay a median of $3,113/year in property taxes on homes valued at $260,800. This translates to an effective tax rate of 1.19%, which is 25% above the Minnesota state average of 0.96%.
The monthly property tax burden for a median-valued home in 56003 is approximately $259, which factors into escrow payments on mortgages. This ZIP code is located within Nicollet County. This is $807 more than the Minnesota average of $2,306/year.
Compared to similar ZIP codes in Minnesota, 56003 has higher property taxes. ZIP codes with similar effective rates include 55796 (1.19%) and 56263 (1.19%).
In Mankato, property taxes represent approximately 3.9% of the median household income of $80,587, providing context for the relative tax burden on homeowners in this area.
Minnesota's homestead classification system taxes primary residences at a lower class rate than rental or commercial property, providing immediate tax savings upon purchase. File your homestead exemption application with the Nicollet County Assessor immediately after closing to lock in the reduced assessment ratio for school and local taxes. Contact the Nicollet County Assessor's office to verify your property has been classified as homestead-eligible and confirm your tax year filing deadline.
Frequently Asked Questions
What is the property tax rate in ZIP code 56003?
How much are property taxes in Mankato, MN (56003)?
How does ZIP 56003 compare to the Minnesota average?
What is the median home value in ZIP 56003?
What county is ZIP code 56003 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$199. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 56003 is part of Nicollet County, Minnesota. View the full county profile for broader context and more data.
View Nicollet County on TaxByCounty →Explore Mankato, MN
View all 2 ZIP codes in Mankato with property tax comparisons.
View Mankato Property Tax Rates →Why compare these ZIPs?
Better comparison set for ZIP 56003
Each ZIP highlights a homebuyer tradeoff: lower rate, stronger value context, shared county rules, city boundary changes, or nearby missing data.
56001
Mankato, MN
0.22 percentage points lower than ZIP 56003.
Rate
0.98%
Tax
$2,574
Quality
89
56021
Courtland, MN
0.27 percentage points lower than ZIP 56003.
Rate
0.92%
Tax
$2,366
Quality
89
56074
Nicollet, MN
0.21 percentage points lower than ZIP 56003.
Rate
0.98%
Tax
$2,608
Quality
89
56082
Saint Peter, MN
0.10 percentage points lower than ZIP 56003.
Rate
1.09%
Tax
$2,882
Quality
89
56054
Lafayette, MN
0.03 percentage points lower than ZIP 56003.
Rate
1.16%
Tax
$2,325
Quality
89
55424
Minneapolis, MN
0.15 percentage points lower than ZIP 56003.
Rate
1.04%
Tax
$10,001
Quality
82
55391
Wayzata, MN
0.14 percentage points lower than ZIP 56003.
Rate
1.06%
Tax
$8,415
Quality
82
55356
Long Lake, MN
0.25 percentage points lower than ZIP 56003.
Rate
0.94%
Tax
$6,712
Quality
82
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.