Two Harbors, Lake County, Minnesota Property Taxes
Property Taxes in Two Harbors, Minnesota
Median Two Harbors, Minnesota effective property tax rate: 0.37%, significantly lower than the national median of 1.02%, and lower than the Minnesota state median of 1.13%.
Median Two Harbors, Minnesota home value: $242,300
Median annual Two Harbors, Minnesota tax bill: $834, $1,566 lower than the national median property tax bill of $2,400.
How are property taxes in Lake calculated?
Property taxes in Two Harbors, Minnesota are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Two Harbors's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Two Harbors, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Two Harbors, Lake County, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.37%
Estimate Property Tax Bill
$897
$832
How Does the Two Harbors Property Tax Calculator Work?
Use this Two Harbors property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Two Harbors' median effective tax rate of 0.37% — based on actual property records in Lake County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Two Harbors' median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Two Harbors: rates range from 0.37% in 55616 to 0.37% in 55616, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Two Harbors.
About Two Harbors Property Taxes
About Property Taxes in Two Harbors, Lake, Minnesota
Two Harbors' median effective property tax rate of 0.37% is lower than the Minnesota state median of 1.13% and lower than the national median of 1.02%. This rate reflects the Lake County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Two Harbors. Homeowners in the 55616 ZIP code carry a median effective rate of 0.37%, while those in the lowest ZIP pay 0.37%. This spread — 0 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Lake County. Understanding which part of Two Harbors you live in can make a meaningful difference to your annual tax bill.
Two Harbors homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the April 30, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Two Harbors, Lake County, Minnesota
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Two Harbors's effective property tax rate to other cities in Minnesota and the median property tax rates in Minnesota and the U.S.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Two Harbors Tax Rate
0.37%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lake County Tax Rate
0.37%
Median Effective Minnesota Tax Rate
1.13%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Two Harbors, Lake County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55616 | 0.26% | 0.31% | 0.37% | 0.41% | 0.49% |
| 55616 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Two Harbors, Lake County, Minnesota
When examining property taxes in Two Harbors, Minnesota, understanding the distinction between "market value" and "assessed value" is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lake County assessor estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Lake County, assessment notices are sent in March each year. They'll typically reach your mailbox by the middle of March.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Two Harbors.
For example, the median home price in Two Harbors is $242,300, with tax bills ranging significantly across the county. 55616 has the highest median home price at $242,300.
Property Tax Assessment Values Across Two Harbors, Lake County, Minnesota
Source: Ownwell
$128,650
$248,575
$368,500
Median Two Harbors Market Value
$242,300
Median Lake County Market Value
$228,000
Median Minnesota Market Value
$304,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Two Harbors, Lake County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55616 | $52,880 | $156,900 | $242,300 | $401,700 | $643,280 |
| 55616 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Two Harbors, Lake County, Minnesota
How are property tax bills calculated in Two Harbors?
Property tax bills in Two Harbors are based on the assessed value of a home, which is then multiplied by the local tax rate. Local taxing authorities use the market value of the property, along with any applicable exemptions or special assessments, to determine the final bill. For homeowners, this means that a higher assessed value can lead to a larger tax bill, while eligible exemptions may help reduce what is owed.
What factors affect the amount you pay?
In Two Harbors, the median home price is $242,300, and property tax bills can vary widely depending on location and property characteristics. The 25th percentile tax bill is $467, while the 75th percentile is $1,443 and the 90th percentile is $2,452. That range shows how much taxes can differ from one homeowner to another, even within the same city.
Why does this matter for homeowners?
Because property taxes are tied to assessed value, homeowners should understand how their property is valued and whether their bill reflects that value accurately.
Median Two Harbors Tax Bill
$834
Median Lake County Tax Bill
$781
Median Minnesota Tax Bill
$3,364
Median United States Tax Bill
$2,400
Property Tax Bills Across Two Harbors, Lake County, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 55616 | $209 | $467 | $834 | $1,443 | $2,452 |
| 55616 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 30 |
Links | |
|---|---|
| Lake Tax Assessor | |
| Website | parcelinfo.com |