Minneapolis, MN — income, home value, property tax, and sales tax.
In ZIP code 55450, part of the Minneapolis area, a household's earnings get stretched across two main taxes. The county-level property tax rate comes to 1.14%, while the combined sales tax rate reaches 9.03%. That sales figure applies to everyday purchases, from groceries to household goods, so it chips away at take-home pay throughout the year. Property taxes, by contrast, hinge on home value rather than income, meaning owners here owe based on assessed worth regardless of what they earn. Together these rates shape how far a paycheck stretches for anyone living in or near Minneapolis, with the sales tax hitting spending and the property tax hitting ownership.