Annual City Budget
Budgeting is a year-round process shaped by long-term strategic plans, public input, and City Council direction. The City Council has final authority for adopting the City's annual budget and establishing the property tax levy.
Use the dropdown menus at the bottom of the page to learn more about the budget timeline and explore the full budget.
To see your property tax bill in the context of City services, the City has a property tax receipt tool for residents to access an itemized breakdown of how property tax funds are spent each year.
If you've ever wondered how much you pay for specific services like snow removal, emergency response, or parks maintenance, now you can find out! Visit the Property Tax Receipt to get your itemized breakdown.
Budget at a Glance
- The City of Shakopee’s tax rate is the 11th lowest out of 103 cities in Minnesota with a population of 10,000+
- The median value home of $350,700 will pay approximately $931 annually in City property taxes
- Approximately 45 cents of every $1 in City property taxes is paid by commercial and industrial properties
- Property taxes help fund the maintenance and snow removal of 174 miles of local road (the distance from Shakopee to Duluth), 85 miles of trail, 94 sports fields, and 47 parks
- Approximately 50 percent of the City’s operating budget is used for public safety purposes (police, fire, and building inspections)
Financial Reports & Documents
The City of Shakopee is committed to transparency and fiscal responsibility. In the dropdown menus below, you’ll find a variety of financial reports that provide insight into how public funds are managed and spent. These documents are prepared in accordance with state and national reporting standards and are available for public review.
The City of Shakopee is on a Jan. 1 through Dec. 31 fiscal calendar.
Budget Timeline
- Spring-Early Summer: Staff prepare capital improvement plan, complete budget forecasts, and host public budget listening sessions
- Summer: Council reviews proposed capital improvement plan, budget, and preliminary tax levy
- September Council adopts maximum preliminary levy, approves 5-year Capital Improvement Plan
- Fall: Departments submit detailed budget requests to the City Administrator
- November: City Administrator submits proposed budget to City Council for workshop discussion
- December: Council hosts public budget meeting, approves budget, and certifies tax levy
Navigate the linked documents below to get more detailed information about the 2025 budget.
Explore the 2024 ACFR, which shows an in-depth look at the City's finances as of June 2025.
Also Available:
Explore the five-year Capital Improvement Plan:
City departments set aside dollars, or “rent,” toward future purchases and replacement of equipment. These funds include:
Building: Future purchases, major reconstructions, and additions to City-owned buildings, including City Hall, Library, Public Works, Police, and Fire Stations.
Capital Equipment: Use and purchase of major pieces of mobile equipment.
Park Asset: Replacement of park equipment.
Information Technology: Acquisition and replacement of computers, printers, copiers, and software, and relating licensing and service contracts.