Bovey, MN — income, home value, property tax, and sales tax.
In ZIP 56657, near Bovey, homes carry a median value of $420,800, while households earn a median of $72,629 and per-capita income reaches $38,395. The county's 0.86% effective property tax rate works out to roughly $3,619 annually on that median home — about 5% of household income, a noticeable but not overwhelming share. Sales taxes add 7.88% at checkout, trimming what's left for other expenses. Buyers here face a market where prices run high against local earnings, so the property tax bill, though set at a comparatively gentle rate, still weighs meaningfully on yearly finances.
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