Item Coversheet

*5.A.8.


Shakopee City Council
December 20, 2022


FROM:Nate Reinhardt, Finance Director
TO:Mayor and Council Members
Subject:
Consideration of the Property Tax Levy Collectible in 2023 and the 2023 Annual Budget, Resolutions Nos. R2022-142 and R2022-143.
Policy/Action Requested:
Adopt Resolution Nos. R2022-142 and R2022-143, approving the property tax levy collectible in 2023 and the 2023 annual budget.
Recommendation:
Adopt the resolutions as requested.
Discussion:

The budget process for the city covers an extensive period of the calendar year.  The process included a series of council meetings throughout the summer and fall to review capital and operational budgets.  The Truth-in-Taxation public meeting was held at the December 6th council meeting where a presentation on the levy and budget was presented to the council and public.

 

The final step in the process is the council approving the levy and budget.  There have been no changes to the budget document since the last council meeting.  Staff is recommending approval of the final 2022 levy collectible with the 2023 property taxes of $23,892,000.  This is a tax levy increase of $1,406,000 or 6.25% from last year.  Staff is also recommending approval of the 2023 annual budget.

Budget Impact:
The tax levy and budget provide operational and capital funding for 2023.
ATTACHMENTS:
Description
Res. No R2022-142 Setting 2023 Property Tax Levy
Res. No. R2022-143 Adopting 2023 Budget
2023 Budget Book Draft
2023 Proposed Budget & Levy Presentation