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Floodwood
Floodwood
Minnesota
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Floodwood is a city in Saint Louis County, Minnesota, United States. Population was 528 at the 2010 census. Originally a logging community, it was a dairy community for most of its history, but could now be best described as a bedroom community, since most of its working population finds employment in nearby Duluth, Grand Rapids, Hibbing and Cloquet. The city describes itself as "The Catfish Capital of the World", a nickname it gave to itself following the introduction of the community's annual Catfish Days festival. U.S. Highway 2 and State Highway 73 (MN 73) are two of the main routes in Floodwood.

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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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