2020 budget invests in infrastructure
In December, the City Council will be asked to approve the 2020 tax levy and general fund budget.
The budget emphasizes an investment in infrastructure with a $780,000 levy increase in funding for capital improvement, park development and street maintenance projects.
For example, in 2020 residents will see more sealcoat projects, which are intended to have a long-term benefit on street conditions.
By putting a sealcoat on a street a year or two earlier than we used to, the city should be able to extend the life of the pavement—sometimes by up to five or 10 years—which saves money in the long run, according to Assistant City Engineer Ryan Halverson.
The budget also includes a $200,000 increase in park funding to help close a projected gap between park dedication fees and planned projects. To meet the expectations of our residents as identified in the Envision Shakopee and Parks Master Plan process, we need to ensure we have funding necessary to deliver the great parks our residents are requesting.
In September, the council approved a preliminary property tax levy of $20,380,500—a 5.98-percent increase from 2019.
For the average-valued home increasing in value by 6.7 percent to $272,600, this equates to a $39 annual increase, which is approximately the same amount as the decrease many residents experienced last year. Absent any change in value, homeowners can expect a tax decrease of about $25.
Shakopee's continued growth reduces the tax burden for property owners across the city. The city's overall tax capacity grew by more than 10 percent ($6.4 million) this year to $66.3 million. More than $1 million is related to new construction. This allows the city to increase its levy by approximately $346,000 without having a tax impact on existing properties.
Share your feedback on the 2020 levy and budget at the annual public comment meeting at 7 p.m. Tuesday, Dec. 3 at City Hall.
- Updated: 12/05/2019
- Updated: 12/02/2019