56248 Property Tax Rate

Property owners in ZIP code 56248 (Herman, Minnesota) pay a median of $1,211/year in property taxes on homes valued at $177,200. This translates to an effective tax rate of 0.68%, which is 29% below the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 56248 is approximately $101, which factors into escrow payments on mortgages. This ZIP code is located within Grant County. This is $1,095 less than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 56248 has higher property taxes. ZIP codes with similar effective rates include 56650 (0.68%) and 56441 (0.68%).

In Herman, property taxes represent approximately 1.5% of the median household income of $82,031, 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 Grant County Assessor's office by December 31 of the year following your purchase to qualify for reduced homestead taxation. Contact the Grant County Assessor to submit your application and review your property assessment.