56271 Property Tax Rate

Property owners in ZIP code 56271 (Murdock, Minnesota) pay a median of $1,306/year in property taxes on homes valued at $206,600. This translates to an effective tax rate of 0.63%, which is 34% below the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 56271 is approximately $109, which factors into escrow payments on mortgages. This ZIP code is located within Swift County. This is $1,000 less than the Minnesota average of $2,306/year.

Compared to similar ZIP codes in Minnesota, 56271 has lower property taxes. ZIP codes with similar effective rates include 56484 (0.63%) and 56551 (0.63%).

In Murdock, property taxes represent approximately 1.9% of the median household income of $70,395, 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 Swift County Assessor's office by December 31 of the year following your purchase to secure homestead classification. Contact the Swift County Assessor to verify filing requirements and confirm your property's homestead status before receiving your first tax bill.