Homeowners in The Lakes, Minnesota paid a median $2,791 a year in property tax on a median home worth $397,100, an effective rate of about 0.70% (Census 2020–2024).
0.79%Murray County overall
The Lakes vs county, state and US
Effective rate
Median tax paid per year
Tax on a home in The Lakes
At the local 0.70% effective rate
| Home value | Estimated yearly tax | Per month |
|---|---|---|
| $150,000 | $1,054 | $88 |
| $250,000 | $1,757 | $146 |
| $350,000 | $2,460 | $205 |
| $500,000 | $3,514 | $293 |
Buying a home in Murray County? 2026 loan limits
Nearby and related
- Murray County property taxcounty overview
- Minnesota property tax by countyranked
- Slayton, MN0.90% effective
- Fulda, MN1.09% effective
- Chandler, MN0.74% effective
- Cost of living in Minnesotaprices & rents
Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates, tables B25103 (median real estate taxes paid), B25077 (median home value), B25003, B25088, B19013 and B01003. These are 2020–2024 medians reported by owner-occupants, not 2026 tax bills or official mill rates. The effective rate here is median tax ÷ median home value. Actual bills depend on assessed value, exemptions (homestead, senior, veteran) and local levies. Check with your county assessor or treasurer. Not tax advice.
Frequently asked questions
What is the property tax rate in The Lakes, Minnesota?
Homeowners in The Lakes, Minnesota paid a median $2,791 a year in property tax on a median home worth $397,100, an effective rate of about 0.70% (Census 2020–2024).
How much is property tax on a $250,000 home in The Lakes?
About $1,757 a year at the 0.70% median effective rate. Exemptions such as homestead can lower it.
Is property tax in The Lakes higher than the rest of Minnesota?
The Lakes ranks #26 lowest of 617 Minnesota places we track. The statewide effective rate is 1.02%. Murray County overall is 0.79%.