In fiscal year 2025, Lakeville recorded a median commercial property tax rate of 2.1%, positioning it as the fourth-highest among Dakota County cities, according to BlockShopper.com.
The county-wide median was 1.8% for the same period, placing Lakeville 0.3 percentage points above the county figure.
Of the 13 cities analyzed in Dakota County, commercial property tax rates varied from 1% in South St. Paul to 3.2% in Rosemount.
For fiscal year 2024, Lakeville’s median commercial property tax rate was 1.5%, ranking eighth countywide that year.
Across the U.S., the average commercial property tax rate reached 1.76% among 53 major cities in 2024, as found by the Lincoln Institute of Land Policy. That analysis indicated that for a commercial property valued at $1 million, plus $200,000 for fixtures, the typical annual tax was about $21,060, with rates spanning from under 1% in some areas to up to 4% in others.
In several states, classification systems mean commercial, industrial, and apartment properties are often subject to higher effective property tax rates than residential properties. Some jurisdictions tax businesses at much higher rates than homes, with certain cities—such as Charleston—charging commercial property about six times the residential rate.
| Rank | City | Tax Rate % |
|---|---|---|
| 1 | Rosemount | 3.2% |
| 2 | West St. Paul | 2.3% |
| 3 | Lilydale | 2.2% |
| 4 | Lakeville | 2.1% |
| 5 | Burnsville | 2% |
| 6 | Apple Valley | 1.9% |
| 7 | Eagan | 1.7% |
| 7 | Farmington | 1.7% |
| 9 | Inver Grove Heights | 1.5% |
| 10 | Hastings | 1.4% |
| 11 | Mendota Heights | 1.2% |
| 12 | Hampton | 1.1% |
| 13 | South St. Paul | 1% |
| Rank | Address | Tax Rate % |
|---|---|---|
| 1 | 17567 Cedar Ave. | 4.5% |
| 2 | 8714 215th St. W. | 2.7% |
| 3 | 7640 Cedar Ave. S. | 2.3% |
| 4 | 21480 Keokuk Ave. | 2.1% |
| 5 | 16350 Kenrick Loop | 2% |
| 6 | 10527 165th St. W. | 1.5% |
| 7 | 21155 Hamburg Ave. | 1% |
| 8 | 20783 Holyoke Ave. | 0.3% |
Note: Incomplete or missing property addresses may occur due to limitations with county assessor data.
This article sourced its information from BlockShopper.com. Access the source data here.