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Rochester
Rochester
Minnesota
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Rochester is a city founded in 1854 in the U.S. State of Minnesota and is the county seat of Olmsted County located on the Zumbro River's south fork in Southeast Minnesota. It is Minnesota's third-largest city and the largest city located outside the Minneapolis-St. Paul Metropolitan Statistical Area. As of 2015, the Rochester metropolitan area has a population of 215,884. According to the 2010 United States Census the city has a population of 106,769. The U.S. Census Bureau estimated that the 2016 population was 114,011. It is the home of the Mayo Clinic and formerly, one of IBM's largest facilities. The city has long been rated as one of the best places to live in the United States by multiple publications such as Money and is one of the most educated cities in the world. IBM no longer owns the site in Rochester, MN. The site was sold to IRG for 33.9 Million dollas in March 2018.

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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.

Learn more about taxes in Minnesota

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