55041 Property Tax Rate
Lake City, Minnesota · Part of Wabasha County
Effective Tax Rate
1.09%
25.2% above state avgMedian Annual Tax
$2,887
$241/mo escrow
Estimate Your Tax
Annual Tax
$2,887
Monthly
$241
Eff. Rate
1.09%
Buyer decision brief
What ZIP 55041 means for your housing budget
Use this ZIP page to compare recurring tax burden before you compare listing prices. The numbers below are Census ZCTA estimates, so they are strongest for neighborhood comparison and weakest for parcel-specific tax planning.
Monthly escrow signal
$241/mo
Based on median annual tax paid
State context
0.13 percentage points above the Minnesota average
Minnesota average: 0.96%
Data confidence
High confidenceThe Census margin of error is $142, about 5% of the median tax estimate.
Verify before you offer
- Confirm parcel assessed value with Wabasha County assessor.
- Check homestead, senior, veteran, and disability exemptions.
- Ask whether purchase triggers reassessment or value-cap reset.
- Review school district and special assessment boundaries.
Lower-rate similar ZIPs
This is informational content, not tax, legal, or mortgage advice. Local assessor records remain the source of truth for a specific property.
Data confidence ledger
Can you trust ZIP 55041 for comparison?
ACS vintage
2019-2023 ACS 5-Year Estimates
Five-year Census ZCTA estimates.
ZCTA caveat
Census area, not parcel boundary
USPS ZIP routes and taxing districts can differ inside the same area.
Field completeness
3/3 required fields
Median tax, home value, and derived rate are present.
MOE status
Strong ACS confidence
$142 tax MOE, 5% of the median tax estimate.
Last site refresh
March 10, 2026
Dataset and page-quality audit run locally before publication.
County fallback
County context only
Wabasha County is used for assessor verification and broader context.
Tax bill anatomy
What can change your actual bill in ZIP 55041
Use the ZIP estimate to compare neighborhoods, then verify these parcel-level inputs before relying on a payment estimate.
Assessed value
The ZCTA median home value is $265,300, but your bill starts with the local assessed value for a specific parcel.
Effective rate
The displayed rate is 1.09%, derived from median tax paid divided by median home value.
Exemptions
Homestead, senior, veteran, disability, and local exemptions can reduce taxable value. Confirm eligibility before estimating escrow.
Reassessment
A purchase can change assessed value depending on Minnesota and county rules. Ask how sale price affects the next assessment cycle.
Escrow impact
The median tax paid in this ZCTA equals about $241 per month before insurance, HOA dues, or special assessments.
Assessor verification
Wabasha County assessor or tax collector records are the source of truth for parcel taxes, appeal windows, and exemptions.
How ZIP 55041 Compares
Median Annual Property Tax
ZIP 55041
1.09%
Effective rate
Minnesota Avg
0.96%
Effective rate
National Avg
1.10%
Effective rate
State Ranking
Property Tax Rank in Minnesota
Higher than 74% of ZIP codes in Minnesota(74th percentile, 849 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 55041
Property owners in ZIP code 55041 (Lake City, Minnesota) pay a median of $2,887/year in property taxes on homes valued at $265,300. This translates to an effective tax rate of 1.09%, which is 14% above the Minnesota state average of 0.96%.
The monthly property tax burden for a median-valued home in 55041 is approximately $241, which factors into escrow payments on mortgages. This ZIP code is located within Wabasha County. This is $581 more than the Minnesota average of $2,306/year.
Compared to similar ZIP codes in Minnesota, 55041 has higher property taxes. ZIP codes with similar effective rates include 55307 (1.09%) and 55125 (1.09%).
In Lake City, property taxes represent approximately 3.5% of the median household income of $83,673, providing context for the relative tax burden on homeowners in this area.
If you're considering purchasing a home in 55041, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Wabasha County's tax assessor directly.
Frequently Asked Questions
What is the property tax rate in ZIP code 55041?
How much are property taxes in Lake City, MN (55041)?
How does ZIP 55041 compare to the Minnesota average?
What is the median home value in ZIP 55041?
What county is ZIP code 55041 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$142. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 55041 is part of Wabasha County, Minnesota. View the full county profile for broader context and more data.
View Wabasha County on TaxByCounty →Why compare these ZIPs?
Better comparison set for ZIP 55041
Each ZIP highlights a homebuyer tradeoff: lower rate, stronger value context, shared county rules, city boundary changes, or nearby missing data.
55968
Reads Landing, MN
0.25 percentage points lower than ZIP 55041.
Rate
0.84%
Tax
$1,650
Quality
77
55957
Millville, MN
0.25 percentage points lower than ZIP 55041.
Rate
0.84%
Tax
$2,211
Quality
82
55981
Wabasha, MN
0.14 percentage points lower than ZIP 55041.
Rate
0.95%
Tax
$2,232
Quality
82
55991
Zumbro Falls, MN
0.03 percentage points lower than ZIP 55041.
Rate
1.06%
Tax
$3,116
Quality
82
55945
Kellogg, MN
0.02 percentage points lower than ZIP 55041.
Rate
1.07%
Tax
$2,359
Quality
82
55956
Mazeppa, MN
0.01 percentage points lower than ZIP 55041.
Rate
1.07%
Tax
$3,313
Quality
82
55424
Minneapolis, MN
0.05 percentage points lower than ZIP 55041.
Rate
1.04%
Tax
$10,001
Quality
82
55391
Wayzata, MN
0.03 percentage points lower than ZIP 55041.
Rate
1.06%
Tax
$8,415
Quality
82
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.