Lake City EDA
P: 651.345.6808
F: 651.345.3208
esparks@lakecityeda.com
107 Center St. W.
Lake City, MN
$300,000
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Provider: City of Lake City Public Utilities
Utility phone: (651)-345-5383
Contact person: Neil Brunkow (651)-345-6851
Electrical Service Rates:
| Small Commercial | Large Commercial |
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| Small Industrial | Large Industrial |
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Provider: City of Lake City Public Utilities
Utility phone: (651)-345-5383
Contact person: Dave Finley (651) 345-6854
Storage Capacity: 1.5 million gallons
Pumping Capacity: 2,550 gallons/minute
Average Demand: 1.2 million gallons/day
Peak Demand: 2 million gallons/day
Total Water Hardness: 18 ppm
Water Service Rates:
| Commercial | Industrial |
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Provider: City of Lake City Public Utilities
Utility phone: (651)-345-5383
Contact person: Mike Tucker (651) 345-3711
Treatment Type: Mechanical Plant
Capacity of Plant: 1.3 million gallons/day
Average Flow: 600,000 gallons/day
Peak Flow: 3.87 million gallons/day
Sewer Service Rates:
| Commercial | Industrial |
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Provider: Xcel Energy
Utility phone: (800) 848-7558
Contact person: Ken Stabler (612) 330-5834
| Company | Product/Service |
| Lake City Medical Center - Mayo Health System | Hospital/Clinic/Nursing Home |
| Hearth and Home Technologies | Fireplace and equipment manufacturing |
| Federal Mogul | Heavy equipment piston production |
| Valley Craft | Office furniture manufacturing |
| Wild Wings | Art printing and related support |
| Pepin Heights Orchard | Fruit tree farming and production |
| Pepin Manufacturing | Medical and industrial manufacturing |
| Independent School District 813 | Elementary and Secondary Schools |
| City of Lake City | General government support |
| Pally Pallets | Other wood product manufacturing |
| Horizon Milling | Grain and oilseed milling |
| Acrotech | Urethane product manufacturing |
| Fiesta Foods | Grocery/deli/bakery |
| Lake City Federal Bank | General Banking |
| Alliance Bank | General Banking |
Information for Southeast Minnesota – Economic Development Region 10
| Year | Month | Labor Force | Employment | Unemployment | Unemployment Rate |
2009 |
November | 279,700 | 262,096 | 17,604 | 6.3 |
2009 |
October | 279,184 | 261,357 | 17,827 | 6.4 |
2009 |
September | 278,638 | 260,287 | 18,351 | 6.6 |
2009 |
August | 280,060 | 260,672 | 19,388 | 6.9 |
2009 |
July |
281,402 | 261,198 | 20,204 | 7.2 |
| 2009 | June | 280,610 | 258,640 | 21,970 | 7.8 |
| 2009 | May | 276,566 | 256,681 | 19,885 | 7.2 |
| 2009 | April | 277,919 | 256,495 | 21,424 | 7.7 |
| 2009 | March | 276,355 | 252,912 | 23,443 | 8.5 |
| 2009 | February | 273,067 | 250,724 | 22,343 | 8.2 |
| 2009 | January | 273,232 | 251,344 | 21,888 | 8.0 |
The City of Lake City, in partnership with the University of Minnesota Extension, underwent a detailed analysis of the retail sector of both the city and Goodhue and Wabasha Counties. The report generated from this analysis gives an historical overview of the retail trade sector in our area, provides a basis for comparison with similar size communities and counties and is useful for identifying opportunities within the retail sector in Lake City. Access a complete copy of the Lake City Retail Trade Analysis.
The State of Minnesota has a very complex property tax system that consists of both state and local property taxes. To estimate what your local property taxes will be, you must start with two things:
The list below represents the Minnesota property tax classification types and the corresponding rates as payable in 2009. These rates are determined by the State Legislature and vary depending on use. In general, business properties have a higher rate than farmland and residential properties.
Current Property Tax Classification Rates (as payable in 2009)
| Property Type | Classification Rate |
| Residential Homestead | |
| First $500,000 of market value | 1.00% |
| Value over $500,000 | 1.25% |
| Residential Non-Homestead | |
| First $500,000 of market value | 1.00% |
| Value over $500,000 | 1.25% |
| Commercial and Industrial | |
| First $150,000 of market value | 1.50% |
| Value over $150,000 | 2.00% |
| Farm Homesteads | |
| House, garage, one acre | |
| First $500,000 of market value | 1.00% |
| Value over $500,000 | 1.25% |
| Remainder of Farm | |
| First $600,000 of market value | 0.55% |
| Value over $600,000 | 1.00% |
| Farm Non-Homesteads | |
| House, garage, one acre | |
| First $500,000 of market value | 1.00% |
| Value over $500,000 | 1.25% |
| Land | 1.00% |
| Residential Rental (Apartments) | |
| 2-3 units | 1.25% |
| 4 or more units | 1.25% |
| Seasonal Cabins | |
| First $500,000 of market value | 1.00% |
| Value over $500,000 | 1.25% |
Once you have determined your property tax classification rate, you may contact the county assessor to find the assessed market value of your property. Lake City is split into two different counties: Wabasha and Goodhue. You must determine which county your property is located in.
County Assessors:
Once you have the property tax classification rate and the assessed market value for your property, multiply these two numbers together to find your tax capacity.
The next step is to determine the amount of your local property tax. To find this, multiply your tax capacity by the local property tax rate. Lake City’s local property tax rate information is provided below.
Local Tax Rates (Payable 2009)
| Taxing District | Tax Rate |
| Statewide General Tax | 45.53% |
| Average County | 49.29% |
| City of Lake City | 47.96% |
| School District 813 | 8.37% |
| SEMMCHRA | 0.68% |
| Total | 151.83% |
Example: You own a business in Lake City with an assessed market value of $300,000
To find the tax capacity of your property, take the first $150,000 of the value multiplied by the classification rate of 1.50% and the remaining $150,000 multiplied by the classification rate of 2.00%.
($150,000 x .015) + ($150,000 x .02) = $5,250
Your property’s tax capacity is $5,250.
Now, multiply your tax capacity ($5,250) by the local property tax rate, including the state general tax (151.83%). This equals your estimated local property tax.
$5,250 x 1.52 = $7,980
Your Lake City business with a value of $300,000 would pay an estimated $7,980 in property taxes for the year. Keep in mind that this is only an estimate; there are many factors that can affect your property taxes. The list below compares 2008 property taxes on a $300,000 commercial property by city with a population range of 5,000 - 10,000 and located in MN Economic Development Region 10 (Southeast MN).
| City | Year | Value | City Tax | Total Tax |
| Lake City | 2008 | 300,000 | 2,386 | 8,386 |
Kasson |
2008 | 300,000 | 2,756 | 9,598 |
La Crescent |
2008 |
300,000 | 2,816 | 9,333 |
| Stewartville | 2008 | 300,000 | 2,588 | 9,706 |