On December 4, the City Council approved the 2024 property tax levy of $80,484,270—a 7.97% increase over 2023. The levy will fund 69% of the City’s 2024 general fund budget.
“Most property taxes support core public safety services including police and fire, and other essential core services such as public works,”City Manager Jamie Verbrugge said. “For every dollar of City taxes paid, 50 cents goes toward police and fire, and 16 cents goes toward public works.” See graph.
In Minnesota, local governments set a total property tax dollar amount instead of a tax rate as is done in some other states. Following state law, this is prorated to each property based on its value. With this property tax levy, the City’s share of 2024 total residential property taxes is 33 cents out of every tax dollar paid. The remaining amount goes to the county, school district and other taxing districts.
From 2023 to 2024, the median home value increased from $355,900 to $361,800, a growth of 1.7%. The monthly cost of tax-supported services for the owner of a $361,800 median-valued home is $118.60 for 2024, an increase from the 2023 monthly cost of $111.09.
“These annual budget discussions are clearly the most important discussions we have as a City,” Mayor Tim Busse said. “I can say without hesitation that City staff and the City Council take very seriously the responsibility we have regarding taxing decisions and how taxpayer money is spent.”
