The City of Shakopee is on a Jan. 1 through Dec. 31 fiscal calendar. The city administrator collaborates with City Council and city departments to develop the annual budget to ensure the city continues to provide quality public services to our residents and businesses at a reasonable price.
At the Sept. 19 City Council meeting, the council adopted its maximum 2018 preliminary property tax levies, general fund budget and debt levy cancellations. The preliminary general fund levy represents a 2.58-percent increase over the 2017 levy. Thanks to new growth, the general fund levy is anticipated to have no impact on the average Shakopee homeowner, as long as a property’s valuation remains unchanged.
In addition, the council also voted to levy $350,000 under the Economic Development Authority (EDA) special benefit levy. Previously, the city has levied these funds as part of the general fund levy; however, staff recommended the move to increase transparency. This levy will now appear as a separate line item on tax impact statements. An average valued home will see a tax of approximately $20.
Property owners will receive their preliminary tax impacts statement from Scott County in November. A final budget and levy must be approved by the end of the year.
The City Council approved its 2017 tax levy, calling for a 7.47-percent increase from 2016. Thanks to increased tax capacity and commercial/industrial growth, the levy is anticipated to have minimal impact on the average Shakopee homeowner. In fact, the median value home ($229,100) will see a small reduction in their city taxes of $9.49.