56167 Property Tax Rate

Property owners in ZIP code 56167 (Round Lake, Minnesota) pay a median of $1,185/year in property taxes on homes valued at $116,200. This translates to an effective tax rate of 1.02%, which is 7% above the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 56167 is approximately $99, which factors into escrow payments on mortgages. This ZIP code is located within Jackson County. This is $1,121 less than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 56167 has higher property taxes. ZIP codes with similar effective rates include 55331 (1.02%) and 56277 (1.02%).

In Round Lake, property taxes represent approximately 1.7% of the median household income of $68,611, 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 Jackson County Assessor's office by December 31 of the year following your purchase to qualify for the reduced tax class. Contact the Jackson County Assessor to verify your homestead status and obtain a copy of your property record card.