56360 Property Tax Rate

Property owners in ZIP code 56360 (Osakis, Minnesota) pay a median of $2,116/year in property taxes on homes valued at $233,000. This translates to an effective tax rate of 0.91%, which is 5% below the Minnesota state average of 0.96%.

The monthly property tax burden for a median-valued home in 56360 is approximately $176, which factors into escrow payments on mortgages. This ZIP code is located within Todd County.

Compared to similar ZIP codes in Minnesota, 56360 has higher property taxes. ZIP codes with similar effective rates include 55969 (0.91%) and 55052 (0.91%).

In Osakis, property taxes represent approximately 3.2% of the median household income of $65,395, providing context for the relative tax burden on homeowners in this area.

Minnesota's homestead classification applies automatically to primary residences you own and occupy, taxing the property at a reduced rate versus rental or commercial use. Verify with the Todd County Assessor that your homestead status is properly recorded after closing to secure the lower tax rate. Request a property tax statement from the Todd County Assessor's office within 30 days of purchase to confirm the classification and identify any appeal opportunities.