56228 Property Tax Rate

Property owners in ZIP code 56228 (Cosmos, Minnesota) pay a median of $1,518/year in property taxes on homes valued at $120,000. This translates to an effective tax rate of 1.26%, which is 32% above the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 56228 is approximately $127, which factors into escrow payments on mortgages. This ZIP code is located within Meeker County. This is $788 less than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 56228 has higher property taxes. ZIP codes with similar effective rates include 55404 (1.26%) and 55947 (1.26%).

In Cosmos, property taxes represent approximately 2.3% of the median household income of $65,139, providing context for the relative tax burden on homeowners in this area.

Minnesota's homestead classification reduces your taxable market value and applies a lower tax class rate to primary residences — register with the Meeker County Assessor upon purchase to lock in this benefit. The Homestead Credit, an income-based property tax refund for qualifying homeowners, is claimed on your Minnesota state income tax return. File your homestead application with the Meeker County Assessor's office immediately after closing.