56654 Property Tax Rate
Loman, Minnesota · Part of Koochiching County
Effective Tax Rate
0.91%
45.8% below state avgMedian Annual Tax
$1,250
$104/mo escrow
Estimate Your Tax
Annual Tax
$1,250
Monthly
$104
Eff. Rate
0.91%
How ZIP 56654 Compares
Median Annual Property Tax
ZIP 56654
0.91%
Effective rate
Minnesota Avg
0.96%
Effective rate
National Avg
1.10%
Effective rate
State Ranking
Property Tax Rank in Minnesota
Lower than 62% of ZIP codes in Minnesota(38th percentile, 849 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 56654
Property owners in ZIP code 56654 (Loman, Minnesota) pay a median of $1,250/year in property taxes on homes valued at $137,500. 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 56654 is approximately $104, which factors into escrow payments on mortgages. This ZIP code is located within Koochiching County. This is $1,056 less than the Minnesota average of $2,306/year.
Compared to similar ZIP codes in Minnesota, 56654 has lower property taxes. ZIP codes with similar effective rates include 56267 (0.91%) and 56331 (0.91%).
Minnesota homestead classification automatically applies to primary residences you own and occupy, reducing the effective tax rate on your home. Confirm homestead status with the Koochiching County Assessor upon closing to ensure the lower rate is applied correctly. File a property tax appeal with the Koochiching County Assessor by the county deadline if assessed value does not align with fair market value.
Frequently Asked Questions
What is the property tax rate in ZIP code 56654?
How much are property taxes in Loman, MN (56654)?
How does ZIP 56654 compare to the Minnesota average?
What is the median home value in ZIP 56654?
What county is ZIP code 56654 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$190. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 56654 is part of Koochiching County, Minnesota. View the full county profile for broader context and more data.
View Koochiching County on TaxByCounty →Similar ZIP Codes in Minnesota
56267
+0.00%Morris
0.91%
$1,836/yr
56331
+0.00%Freeport
0.91%
$2,458/yr
56319
+0.00%Carlos
0.91%
$2,565/yr
55969
-0.00%Rollingstone
0.91%
$2,366/yr
55303
+0.00%Anoka
0.91%
$3,082/yr
56360
-0.00%Osakis
0.91%
$2,116/yr
56567
+0.00%New York Mills
0.91%
$1,724/yr
55052
-0.00%Morristown
0.91%
$2,420/yr
55713
-0.00%Buhl
0.91%
$1,068/yr
56382
+0.00%Swanville
0.91%
$2,199/yr
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.