ZIP Code 55401

In ZIP code 55401, part of Minneapolis, homes carry a median value of $396,500, and the county's 1.14% effective property tax rate translates into roughly $4,520 a year in taxes on such a home. Households here report a median income of $113,522, with per-capita income reaching $112,103, so that annual tax bill amounts to about 4% of typical household earnings — a share that many owners can absorb without straining. Sales taxes, meanwhile, total 9.03% on purchases. High earnings alongside substantial home values keep this area's property tax load proportionate to what people bring in.