56164 Property Tax Rate

Property owners in ZIP code 56164 (Pipestone, Minnesota) pay a median of $1,178/year in property taxes on homes valued at $133,300. This translates to an effective tax rate of 0.88%, which is 8% below the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 56164 is approximately $98, which factors into escrow payments on mortgages. This ZIP code is located within Pipestone County. This is $1,128 less than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 56164 has higher property taxes. ZIP codes with similar effective rates include 55026 (0.88%) and 55021 (0.88%).

In Pipestone, property taxes represent approximately 1.6% of the median household income of $71,550, 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 Pipestone County Assessor's office by December 31 of the year following your purchase to secure the homestead rate. Contact the Pipestone County Assessor to confirm filing procedures and ensure your property receives homestead classification on your assessment notice.