Minneapolis, MN — income, home value, property tax, and sales tax.
In ZIP 55413, on Minneapolis's northeast side, homes carry a median value of $371,600, and the county's 1.14% effective property tax rate works out to roughly $4,236 a year on such a home. With median household income at $85,282, that tax equals about 5% of annual earnings, while per-capita income sits at $61,079. Sales taxes add 9.03% at the register. The result is a market where buying costs are substantial but the yearly tax draw stays proportionate to what households bring in.
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