2022 Property Tax Levy and Budget

A public hearing was held on Monday, December 6th, 2021 at 6:30 p.m. via a virtual meeting conducted by electronic means in accordance with Minnesota Statutes. 

The proposed 2022 budget, in financial terms, sets forth the action plan of the City. The priorities for staff, infrastructure improvement, and service response are reflected in the allocation of resources in the plan developed in City Council Joint Work Sessions with the Financial Commission during the months of June through November 2021. The expenditure levels are focused on maintaining current services and on the achievement of the strategic priorities of Resident Economic Stability, Targeted Redevelopment, Enhanced Community Image, Inclusive Community Engagement, Safe Secure Stable Community and Key Transportation Investments and key outcomes adopted by the City Council.

The overall General Fund budget will increase by 8.22% and the overall tax levy increase is 6.17%. The property tax levy increase includes a new debt service levy dedicated for the repayment of a 2021 bond issue used to finance neighborhood infrastructure reconstruction improvements. The Median Value Residential Property in the City is $223,000 compared to the prior year value of $207,000, which is an increase in market value of 7.7%. The Median Value Residential Property will pay approximately $1,252 in City and Housing and Redevelopment Authority property taxes in 2022 compared to $1,1276 in 2021, which is an decrease of $24.