56314 Property Tax Rate

Property owners in ZIP code 56314 (Bowlus, Minnesota) pay a median of $2,285/year in property taxes on homes valued at $260,300. 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 56314 is approximately $190, which factors into escrow payments on mortgages. This ZIP code is located within Morrison County.

Compared to similar ZIP codes in Minnesota, 56314 has lower property taxes. ZIP codes with similar effective rates include 55779 (0.88%) and 56581 (0.88%).

In Bowlus, property taxes represent approximately 2.6% of the median household income of $87,500, providing context for the relative tax burden on homeowners in this area.

Minnesota classifies primary residences at a lower taxable rate than rental or commercial property, reducing your overall tax burden compared to non-homestead classifications. Contact the Morrison County Assessor's office to ensure your property is classified as homestead when you purchase — this classification is automatic for owner-occupied homes but requires verification. File any assessment appeals with the Morrison County Assessor by the local deadline (typically mid-year) if your assessed value seems inconsistent with comparable sales.