[3] Laketown Township organized in 1858, and was named for its numerous small lakes.

The west edge of the city of Chaska and the west half of the city of Victoria are located within the township geographically but are separate entities.

Township 116 North, Range 24 West, Fifth Principal Meridian of the Public Land Survey System.

As of the census[1] of 2000, there were 2,331 people, 637 households, and 545 families residing in the township.

11.1% of all households were made up of individuals, and 3.9% had someone living alone who was 65 years of age or older.