56114 Property Tax Rate

Property owners in ZIP code 56114 (Avoca, Minnesota) pay a median of $871/year in property taxes on homes valued at $174,000. This translates to an effective tax rate of 0.50%, which is 48% below the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 56114 is approximately $73, which factors into escrow payments on mortgages. This ZIP code is located within Murray County. This is $1,435 less than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 56114 has higher property taxes. ZIP codes with similar effective rates include 56588 (0.50%) and 56629 (0.50%).

In Avoca, property taxes represent approximately 1.2% of the median household income of $75,000, providing context for the relative tax burden on homeowners in this area.

Minnesota's homestead classification system taxes primary residences at a lower assessment rate than rental or commercial property, providing immediate tax savings at purchase. File your homestead application with the Murray County Assessor's office by December 31 of the year following your purchase to secure the homestead rate. Contact the Murray County Assessor to submit your application and verify that your property is classified as homestead on the tax rolls.