56116 Property Tax Rate

Property owners in ZIP code 56116 (Beaver Creek, Minnesota) pay a median of $1,685/year in property taxes on homes valued at $219,800. This translates to an effective tax rate of 0.77%, which is 20% below the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 56116 is approximately $140, which factors into escrow payments on mortgages. This ZIP code is located within Rock County. This is $621 less than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 56116 has higher property taxes. ZIP codes with similar effective rates include 56280 (0.77%) and 56156 (0.77%).

In Beaver Creek, property taxes represent approximately 2.0% of the median household income of $85,000, 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 Rock County Assessor's office by December 31 of the year following your purchase to lock in homestead classification. Contact the Rock County Assessor to verify your application status and review your property assessment before the tax bill is finalized.