Item Coversheet

7.A.


Shakopee City Council
December 3, 2019


FROM:Nate Reinhardt, Finance Director
TO:Mayor and Council Members
Subject:
2020 Budget & Property Tax Levy Public Meeting and Presentation
Policy/Action Requested:
No action is required at tonight's meeting and the public is welcome to comment on the budget. Included in the 2020 budget is the revised/final 2019 budget. The 2020 proposed budget is posted on the city's website.
Recommendation:

Staff is recommending a city levy of $20,380,500, which is an increase of $1.15 million or 5.98 percent over last year, and a preliminary EDA levy of $350,000, which is identical to last year. No changes were made to the levy between now and when the preliminary levy was set in September. 

 

Residential values increased on average 6.7 percent according to data from Scott County with 56 percent of the homes seeing an increase between 5 and 15 percent. For the average-valued home increasing in value 6.7 percent from $255,400 to $272,600, this equates to a 4.6 percent or $39 annual tax increase.

Discussion:
Budget Impact:
ATTACHMENTS:
Description
2020 Budget
2020 Proposed Budget Presentation