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Elko New Market
Elko New Market
Minnesota
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Elko New Market is a city in Scott County in the State of Minnesota resulting from a merger of bordering cities Elko and New Market in 2006. The population was 4,110 at the 2010 census.Served by Interstate 35 and Scott County Road 2, the city contains one public school Eagle View Elementary, and is primarily known for Elko Speedway. The New Market Hotel and Store is on the National Register of Historic Places. The city contains a marker for the Big Woods of south–central Minnesota.Elko was initially a railway village in 1858. New Market was named for the town near Cambridge, England though it was first named Jackson until its establishment about the same time. Both Elko and New Market were common town names of the era according to the Minnesota Historical Society.

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Taxes

D

How did Minnesota earn the grade of D? We examined the state taxes based on how age friendly they are. Minnesota has a state sales tax of 6.88%. Of particular interest is that Minnesota does have taxes on social security. There are estate taxes. There are no taxes imposed on inheritance. Minnesota has an effective property tax rate of 1.17%. Weighing these taxes and other taxes most likely to impact the aging population is how Minnesota earned its state tax grade of D.

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