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.
Navigate the linked documents below to get more detailed information about the 2026 budget.
Navigate the linked documents below to get more detailed information about the 2025 budget.
Capital Projects are planned for several years in advance using an annual Capital Improvement Plan (CIP), which serves as the City’s roadmap for major projects and investments in our community’s future. It outlines planned improvements to things like streets, parks, trails, utilities, and public buildings over the next five years and is updated every year.
The CIP helps the City plan ahead for large expenses, prioritize projects based on need and available funding, and make sure critical infrastructure is maintained and improved in a responsible, transparent way.
While adopting a CIP doesn’t mean every project is immediately funded or guaranteed, it gives residents and decision-makers a clear picture of what’s coming, what it will cost, and how it will benefit the community.
| 2025-29 CIP |
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
The report is prepared following strict national accounting standards to ensure accuracy and transparency. By publishing this report each year, the City demonstrates its commitment to responsible financial management and keeping residents informed about how their tax dollars are used to support the community. The report includes:
- An overview of the City’s finances and key highlights from the year
- Audited financial statements reviewed by independent accountants
- Long-term financial and community data that show trends over time
| 2023 Annual Comprehensive Financial Report | 2024 Annual Comprehensive Financial Report |
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.