Taxes in Lakeville
Lakeville's tax picture combines a property-tax rate running genuinely below Minnesota's own statewide median with the state's real, genuine 4-bracket income tax.
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Learn moreA property tax rate below Minnesota's own median
Lakeville's own median effective property tax rate ran 1.09% per Ownwell (2026) -- matching Dakota County's own countywide median exactly, and genuinely below the Minnesota statewide median of 1.13%, despite Lakeville's own above-average home values.
Minnesota's real 4-bracket income tax
Minnesota's real, genuine 4-bracket state income tax runs 5.35% to 9.85% (on income over ~$193,240 for single filers, 2026), applying statewide including in Lakeville, with NO local or county piggyback income tax layer.
A real, disclosed Social Security outlier
Minnesota is a genuine, current outlier in still taxing Social Security above an income-based exemption ($86,410 single/HOH, $110,780 joint) -- a real, honestly disclosed factor for higher-income Lakeville retirees specifically.
Key takeaways
- Lakeville's own effective property tax rate (1.09%) runs genuinely below Minnesota's own 1.13% statewide median.
- Minnesota's flat-bracket 4-tier state income tax (5.35%-9.85%) applies statewide, including in Lakeville.
- Minnesota genuinely still taxes Social Security above an income-based exemption -- relevant to higher-income retirees.
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