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2.c. Budget Review
EXECUTIVE SUMMARY City Council Work Session: November 13, 2017 AGENDA ITEM: 2018 Budget AGENDA SECTION: Discussion PREPARED BY: Logan Martin, City Administrator Jeff May, Finance Director AGENDA NO. 2.c. ATTACHMENTS: 2018 Budget summary sheets, County- wide tax rate and value background APPROVED BY: LJM RECOMMENDED ACTION: Review updated 2018 Budget & Levy information and provide direction on any further changes. BACKGROUND The proposed 2018 budget and levy have been reviewed by the City Council at work sessions in July and August, prior to formal adoption in September. The preliminary levy was established with an increase of 3.91%, which would equate to a $35 increase in City taxes to the median valued home. Final adoption of the 2018 budget and levy must occur in December, and the Council is currently set to consider adoption of the budget and levy, along with hosting the Truth in Taxation hearing, on December 5th DISCUSSION Since the September meeting, City staff has been working to finalize some factors affecting the budget. Specifically, we were pleased to negotiate a modest increase of 6% to the City’s health insurance rates, which is an improvement over the place-holder amount in the preliminary budget. As a result of these cost savings, staff is recommending reducing the additional allocation of SKB funds to the general fund by $75,000. No other significant changes have been made to the budget since the September preliminary approval. Figures from surrounding communities have been submitted to the County, and the City continues to retain its positioning in a number of key comparables in 2018. • The City’s tax rate will reduce by 2.18% in ’18, making it the 4rd lowest tax rate in the County. • The 3.91% levy increase is the 3rd lowest % increase in the County (with the lowest being 3.64%) and the lowest increase in dollars. • City taxes paid on a median valued home in 2018 will be $44 less than 2008 ($1,014 vs. $1,058) • The City’s levy from 2008 – 2018 has grown by 3.91%, significantly less than any other city in the County (ranging from 13.9% - 64.6%) • The City’s taxable capacity value is 11.17% higher in 2018 than it was in 2008, the 2nd largest value growth in the County and one of only 5 cities in the County to have positive value growth post- recession. 2 Background information on County-wide tax rates and market values is attached. Also attached are the updated budget summary sheets, and please refer to the September Council packet for a full version of the 2018 Budget. Staff is aware of a few remaining items requiring discussion at the work session. Staff will also be prepared to discuss the aforementioned data and any other changes requested by the Council during the work session. CONCLUSION The City Council should review the preliminary 2018 budget and levy, and should provide direction to staff on any needed changes prior to the preparation of the final budget and levy for adoption in December. FUNDING REQUIREMENTS - USES December 5, 2017 2017 2018 Adopted Proposed +/- Departments Budget Budget Difference Percentage ----------------------------------------------------------------------------------------------------------------------------------- Council Budget $272,500 $288,000 $15,500 5.69% Administration Budget 671,200 676,700 5,500 0.82% Elections Budget 20,000 45,300 25,300 126.50% Finance Budget 528,100 568,300 40,200 7.61% General Government Budget 323,600 334,600 11,000 3.40% Community Development Budget 1,052,500 1,125,200 72,700 6.91% Police Budget 3,930,300 4,164,500 234,200 5.96% Fire Budget 384,000 438,700 54,700 14.24% Public Works Operating Budgets: Government Buildings Budget 574,300 605,200 30,900 5.38% Fleet Maintenance Budget 653,500 656,500 3,000 0.46% Street Maintenance Budget 1,423,500 1,520,700 97,200 6.83% Parks Maintenance Budget 940,000 1,001,100 61,100 6.50% Park & Rec Budget - General Operating 1,286,000 1,326,800 40,800 3.17% Park & Rec Budget - Steeple Ctr. Operations 111,400 119,400 8,000 7.18% Park & Rec Budget - Special Programs 91,800 85,400 (6,400)-6.97% Transfers - Arena Assistance 130,000 130,000 0 0.00%----------------------------------------------------------------------- Total Operating Budgets - General Fund $12,392,700 $13,086,400 $693,700 5.60% Building CIP Requirements 24,000 24,000 0 0.00% Street CIP Requirements 811,400 783,900 (27,500)-3.39% Equipment CIP Requirements 580,000 600,000 20,000 3.45% Insurance Budget Requirements 260,000 280,000 20,000 7.69% Port Authority Operating Levy 58,000 60,000 2,000 3.45% Bonded Indebtedness 346,056 344,681 (1,375)-0.40% Water Enterprise Fund 1,653,400 2,359,700 706,300 42.72% Sewer Enterprise Fund 2,202,000 2,525,100 323,100 14.67% Storm Water Enterprise Fund 1,285,400 1,180,300 (105,100)-8.18% Arena Enterprise Fund 610,100 531,000 (79,100)-12.97%----------------------------------------------------------------------- Total Funding Requirements $20,223,056 $21,775,081 $1,552,025 7.67%======================================= FUNDING REQUIREMENTS - SOURCES December 5, 2017 2017 2018 Adopted Proposed +/- Types Budget Budget Difference Percentage ----------------------------------------------------------------------------------------------------------------------------------- Internal Revenue Generated: Licenses and Permits 695,900 729,200 33,300 4.79% Intergovernmental 710,600 747,800 37,200 5.24% Charges for Services 1,123,800 1,309,100 185,300 16.49% Fines & Forfeits 120,000 115,000 (5,000)-4.17% Recreational Fees 242,100 236,500 (5,600)-2.31% Miscellaneous Revenues 148,800 163,100 14,300 9.61% Transfers In 3,500 3,500 0 0.00% Enterprise Revenues 5,750,900 6,596,100 845,200 14.70% ------------------------------------------------------------------------ Total Internal Revenues 8,795,600 9,900,300 1,104,700 12.56% Levy Sources: Special Levies 346,056 344,681 (1,375)-0.40% General Levy 11,081,400 11,530,100 448,700 4.05% ------------------------------------------------------------------------ Total Levy $11,427,456 $11,874,781 $447,325 3.91% ------------------------------------------------------------------------ Total Revenue Sources $20,223,056 $21,775,081 $1,552,025 7.67% ====================================== 2017 GENERAL PROPERTY TAX LEVY PAYABLE 2018 GENERAL LEVY GENERAL FUND $9,782,200 BUILDING CIP FUND $24,000 STREET CIP FUND $783,900 EQUIPMENT CIP FUND $600,000 INSURANCE FUND $280,000 PORT AUTHORITY OPERATING LEVY $60,000 ------------------------- TOTAL GENERAL LEVY $11,530,100 BONDED INDEBTEDNESS G.O. PUBLIC FACILITY REFUNDING BONDS 2010B (Old 2001C) (Port Authority) (Authorized - $167,625)$167,625 G.O. IMPROVEMENT BONDS 2013A (Authorized - $8,701) $0 G.O. IMPROVEMENT BONDS 2014A (Authorized - $3,448) $0 G.O. CAPITAL IMPROVEMENT PLAN (CIP) REFUNDING BONDS 2015B (Authorized - $177,057)$177,056 ------------------------- TOTAL BONDED INDEBTEDNESS $344,681 ------------------------- GRAND TOTAL 2017 PROPERTY TAX LEVY $11,874,781 ============== Last Updated 11/7/17 SPREAD LEVY COMPUTATIONAL WORKSHEET (INCLUDING FIRE STATION LEVY) (Proposed) 2015 2016 2017 2018 -------------------------------------------------------------------- Total Funding Requirements 18,237,547 18,828,402 20,223,056 21,775,081 Less: Internal Revenues 7,409,800 7,789,100 8,795,600 9,900,300 -------------------------------------------------------------------- Equals: Revenues Needed 10,827,747 11,039,302 11,427,456 11,874,781 County Auditor Adjustments (All Subtractions): Fiscal Disparities Distribution Levy (Metro Area)1,172,199 1,121,469 1,175,131 1,236,215 (2) -------------------------------------------------------------------- Spread Levy Used to Compute Local Tax Rate 9,655,548 (1)9,917,833 (1)10,252,325 (1)10,638,566 Increase/(Decrease) from Previous Year in Spread Levy 2.72%3.37%3.77% (1) Actual Spread Levy Based on Numbers from Dakota County (2) 2018 Number Provided by Dakota County as of 8/9/17 Last Updated - 11/7/17 CITY OF ROSEMOUNT WORKSHEET FOR ESTIMATING RESIDENTIAL PROPERTY TAXES (ISD #196 FIGURES) (Rates Based on Proposed Preliminary Levy Numbers) 220,981 (Value After M/V Exclusion)234,061 (Value After M/V Exclusion)247,850 (Value After M/V Exclusion)(+5.89%)289,760 (Value After M/V Exclusion) Market Value 236,900 (Payable 2016 Median)248,900 (Payable 2017 Median)261,550 (Est. Payable 2018 Median)(+5.08%)300,000 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Year 2016 2017 2018 Est. 2016 2017 2018 Est.2016 2017 2018 Est. 2016 2017 2018 Est. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Tax Capacity 2,210 2,210 2,210 2,341 2,341 2,341 2,478 2,478 2,478 2,898 2,898 2,898 Tax Capacity Rates: City 0.43149 0.41832 0.40918 0.43149 0.41832 0.40918 0.43149 0.41832 0.40918 0.43149 0.41832 0.40918 County 0.28570 0.28004 0.26540 0.28570 0.28004 0.26540 0.28570 0.28004 0.26540 0.28570 0.28004 0.26540 School District 0.24317 0.23336 0.21329 0.24317 0.23336 0.21329 0.24317 0.23336 0.21329 0.24317 0.23336 0.21329 Miscellaneous 0.05063 0.04907 0.04301 0.05063 0.04907 0.04301 0.05063 0.04907 0.04301 0.05063 0.04907 0.04301 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Totals 1.01099 0.98079 0.93088 1.01099 0.98079 0.93088 1.01099 0.98079 0.93088 1.01099 0.98079 0.93088 ======================================================================================================================== City Market Referendum 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 ISD #196 Market Ref 0.0026999 0.0027380 0.0026711 0.0026999 0.0027380 0.0026711 0.0026999 0.0027380 0.0026711 0.0026999 0.0027380 0.0026711 Dakota County Ref 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 2017 2018 Property Taxes: City 954 924 904 1,010 979 958 1,069 1,037 1,014 1,250 1,212 1,186 City Taxes $979 $1,014 County 631 619 586 669 655 621 708 694 658 828 811 769 City Market Ref.$0 $0 School District 537 516 471 569 546 499 603 578 529 705 676 618 ---------------------------- Miscellaneous 112 108 95 119 115 101 125 122 107 147 142 125 Total Taxes - Median $979 $1,014 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Total Property Taxes 2,234 2,167 2,057 2,366 2,296 2,179 2,506 2,431 2,307 2,929 2,842 2,697 Increase / (Decrease)$35 City Market Referendum 0 0 0 0 0 0 0 0 0 0 0 0 ISD #196 Market Ref 640 649 633 672 681 665 706 716 699 810 821 801 Dakota County Ref 0 0 0 0 0 0 0 0 0 0 0 0 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Grand Total All Taxes $2,874 $2,816 $2,690 $3,038 $2,977 $2,844 $3,212 $3,147 $3,006 $3,739 $3,663 $3,499 ======================================================================================================================== 344,260 (Value After M/V Exclusion)414,000 (Value After M/V Exclusion) Market Value 350,000 414,000 History of Actual Tax Capacity Rates (Using ISD #196 Rates) ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Year 2016 2017 2018 Est. 2016 2017 2018 Est.2013 2014 2015 2016 2017 2018 Est. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Tax Capacity 3,443 3,443 3,443 4,140 4,140 4,140 (2.18% Decrease) Tax Capacity Rates: City 0.43149 0.41832 0.40918 0.43149 0.41832 0.40918 0.48862 0.47676 0.45152 0.43149 0.41832 0.40918 (1), (2) County 0.28570 0.28004 0.26540 0.28570 0.28004 0.26540 0.33421 0.31827 0.29633 0.28570 0.28004 0.26540 (2) School District 0.24317 0.23336 0.21329 0.24317 0.23336 0.21329 0.27956 0.27606 0.23271 0.24317 0.23336 0.21329 (2) Miscellaneous 0.05063 0.04907 0.04301 0.05063 0.04907 0.04301 0.05884 0.05538 0.05033 0.05063 0.04907 0.04301 (2) ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Totals 1.01099 0.98079 0.93088 1.01099 0.98079 0.93088 1.16123 1.12647 1.03089 1.01099 0.98079 0.93088 ======================================================================================================================== City Market Referendum 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 (2) ISD #196 Market Ref 0.0026999 0.0027380 0.0026711 0.0026999 0.0027380 0.0026711 0.0023542 0.0025809 0.0025484 0.0026999 0.0027380 0.0026711 (2) Dakota County Ref 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 0.0000000 (2) Property Taxes: City 1,485 1,440 1,409 1,786 1,732 1,694 Net Tax Capacity Percentages County 984 964 914 1,183 1,159 1,099 For Residential Homesteads: School District 837 803 734 1,007 966 883 Miscellaneous 174 169 148 210 203 178 Equal to or Less Than $500,000 1.00%1.00%1.00% ------------------------------------------------------------------------------------------------------------Over $500,000 1.25%1.25%1.25% Total Property Taxes 3,480 3,376 3,205 4,185 4,060 3,854 City Market Referendum 0 0 0 0 0 0 ISD #196 Market Ref 945 958 935 1,118 1,134 1,106 (For 2002 Through 2011 Credit Applied to All Organizations Proportionately) Dakota County Ref 0 0 0 0 0 0 (For 2012 and On Credit Eliminated-Replaced with Market Value Adjustment) ------------------------------------------------------============================== Grand Total All Taxes $4,425 $4,335 $4,140 $5,303 $5,194 $4,960 ============================================================ (1) This Figure Derived Using Figures Provided by Dakota County: (a) 2017 Projected Levy Less Fiscal Disparities as of 8/30/17 10,638,566 /26,000,101 =0.40917 (b) Net Tax Capacity Figure as of 10/16/17 (With M/V Exclusion)29,589,603 (6.15% Increase from Final Pay 2017) (c) Captured Tax Increment Tax Capacity as of 10/31/17 (935,119) (9.75% Increase from Final Pay 2017) (d) Contribution to Fiscal Disparities as of 7/31/17 (2,654,383) (5.52% Increase from Final Pay 2017) ------------------ Last Updated - 11/7/17 (2) These Figures Provided by Dakota County as of 10/20/17 26,000,101 (For 2013 and on the City of Rosemount does not have a Referendum Levy) 2008/2009 *2009/2010 *2010/2011 *2011/2012 *2012/2013 *2013/2014 *2014/2015 *2015/2016 *2016/2017 *2017/2018 * Certified Levy Certified Levy Certified Levy Certified Levy Certified Levy Certified Levy Certified Levy Certified Levy $ +/-% +/-Certified Levy $ +/-% +/-Proposed Levy $ +/-% +/- Apple Valley 22,627,731 22,839,554 22,700,000 22,025,249 22,410,946 22,727,000 23,134,000 24,058,000 924,000 3.99%24,840,000 782,000 3.25%25,793,000 953,000 3.84% Burnsville 26,079,715 26,079,715 27,397,711 26,348,820 26,988,262 28,448,573 29,584,711 30,951,674 1,366,963 4.62%32,075,674 1,124,000 3.63%33,242,674 1,167,000 3.64% Eagan 25,912,840 27,465,585 28,247,111 27,425,081 28,322,017 29,086,355 30,221,113 31,688,284 1,467,171 4.85%33,018,126 1,329,842 4.20%34,721,942 1,703,816 5.16% Farmington 9,313,415 9,586,323 10,103,958 10,582,243 10,761,856 10,984,055 11,402,145 11,718,018 315,873 2.77%12,133,656 415,638 3.55%12,681,188 547,532 4.51% Hastings 11,581,472 11,581,000 11,264,000 11,746,042 11,980,920 11,610,920 12,060,920 12,510,920 450,000 3.73%12,960,920 450,000 3.60%13,595,307 634,387 4.89% Inver Grove Hts.15,420,973 15,689,990 15,632,796 14,958,691 14,551,809 15,056,760 16,468,844 18,022,195 1,553,351 9.43%19,197,825 1,175,630 6.52%21,264,310 2,066,485 10.76% Lakeville 23,527,163 24,041,653 24,036,652 23,126,960 23,079,185 23,657,996 24,728,549 25,679,619 951,070 3.85%26,679,614 999,995 3.89%28,254,268 1,574,654 5.90% Mendota Hts.6,139,263 6,255,533 6,201,620 6,170,072 6,416,559 6,603,749 6,999,974 7,406,399 406,425 5.81%7,990,330 583,931 7.88%8,591,146 600,816 7.52% Rosemount 11,427,464 11,139,319 10,962,151 10,331,826 10,459,694 10,621,422 10,827,747 11,039,302 211,555 1.95%11,427,456 388,154 3.52%11,874,781 447,325 3.91% South St. Paul 7,053,607 7,454,599 7,880,133 8,252,760 8,644,354 8,644,354 9,278,064 9,827,609 549,545 5.92%10,466,008 638,399 6.50%11,434,114 968,106 9.25% West St. Paul 8,745,974 9,265,888 9,760,512 9,954,113 10,339,245 10,696,145 11,610,896 12,164,861 553,965 4.77%12,935,220 770,359 6.33%14,397,058 1,461,838 11.30% *Levy Figure includes "all" levies (including Market Value Referendum Levies) NOTES:All Levy Figures through "2016/2017 Certified Levy" are from Dakota County records Dollar Changes from 2008/2009 Certified Levy to 2017/2018 Proposed Levy: Dollar Change % Change Apple Valley $3,165,269 13.99% Burnsville $7,162,959 27.47% Eagan $8,809,102 34.00% Farmington $3,367,773 36.16% Hastings $2,013,835 17.39% Inver Grove Heights $5,843,337 37.89% Lakeville $4,727,105 20.09% Mendota Heights $2,451,883 39.94% Rosemount $447,317 3.91% South St. Paul $4,380,507 62.10% West St. Paul $5,651,084 64.61% Levy Information City Rate 2016 Rate 2017 Rate 2018 Prelim Rate 2019 Rate 2020 Rate 2021 Rate 2022 Rate 2023 Rate 2024 Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Apple Valley 5 0.44721 5 0.44473 5 0.42453 Burnsville 6 0.46525 6 0.46557 6 0.43506 Eagan 2 0.37097 1 0.37385 1 0.36352 Farmington 9 0.59239 8 0.58760 8 0.57111 Hastings 10 0.63577 9 0.62518 9 0.61307 Inver Grove Heights 7 0.49266 7 0.51644 7 0.51792 Lakeville 3 0.38669 2 0.37510 2 0.36748 Mendota Heights 1 0.35859 3 0.38104 3 0.39422 Rosemount 4 0.43149 4 0.41832 4 0.40918 South St. Paul 11 0.64693 10 0.63853 10 0.63588 West St. Paul 8 0.69795 11 0.71412 11 0.69213 Dakota County n/a 0.28570 n/a 0.28004 n/a 0.26540 n/a n/a 0.29149 n/a 0.31426 n/a 0.33421 n/a 0.31827 n/a 0.29633 Rate 2007 Rate 2008 Rate 2009 Rate 2010 Rate 2011 Rate 2012 Rate 2013 Rate 2014 Rate 2015 Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Apple Valley 6 0.34891 5 0.35537 5 0.37086 5 0.39867 4 0.42388 5 0.44110 7 0.49210 7 0.47891 6 0.45274 Burnsville 5 0.34564 4 0.35005 4 0.36121 4 0.38566 5 0.42598 4 0.43213 5 0.47021 5 0.46670 4 0.44790 Eagan 1 0.25232 2 0.25892 2 0.26886 2 0.30408 2 0.33675 2 0.34553 2 0.38272 2 0.38250 2 0.36525 Farmington 8 0.41883 10 0.43821 9 0.44186 9 0.49274 10 0.55733 10 0.63093 9 0.66821 9 0.65876 9 0.61455 Hastings 11 0.49235 11 0.49475 11 0.49732 11 0.52677 9 0.55195 11 0.66083 10 0.68547 10 0.66246 10 0.62581 Inver Grove Heights 7 0.36514 7 0.37403 6 0.37878 7 0.41757 6 0.43169 6 0.44883 4 0.46312 4 0.46128 7 0.48131 Lakeville 3 0.31583 3 0.34195 3 0.33973 3 0.36624 3 0.38250 3 0.39051 3 0.41234 3 0.40696 3 0.38948 Mendota Heights 2 0.26398 1 0.24142 1 0.26165 1 0.28061 1 0.29758 1 0.32057 1 0.34479 1 0.34737 1 0.34964 Rosemount 10 0.42521 8 0.42440 8 0.42323 8 0.43358 7 0.44661 7 0.46994 6 0.48862 6 0.47676 5 0.45152 South St. Paul 4 0.34143 6 0.36142 7 0.38532 6 0.41428 8 0.48374 8 0.56466 8 0.63280 8 0.60901 8 0.60405 West St. Paul 9 0.42082 9 0.43706 10 0.44608 10 0.50873 11 0.56078 9 0.62205 11 0.69447 11 0.71249 11 0.70642 Dakota County n/a 0.25127 n/a 0.25184 n/a 0.25821 n/a 0.27269 n/a 0.29149 n/a 0.31426 n/a 0.33421 n/a 0.31827 n/a 0.29633 Rate 1998 Rate 1999 Rate 2000 Rate 2001 Rate 2002 Rate 2003 Rate 2004 Rate 2005 Rate 2006 Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Apple Valley 8 0.31266 8 0.32287 7 0.29019 9 0.31320 8 0.45942 8 0.41578 6 0.39610 4 0.36753 7 0.35690 Burnsville 6 0.26986 6 0.29548 8 0.29075 7 0.29204 4 0.43296 6 0.41074 4 0.38928 7 0.38004 5 0.35414 Eagan 4 0.25423 4 0.26271 4 0.26022 3 0.23441 2 0.31715 2 0.29912 2 0.28702 2 0.28186 1 0.26704 Farmington 9 0.33640 9 0.33067 9 0.30592 8 0.29953 9 0.48892 9 0.46894 8 0.41174 9 0.43767 9 0.42770 Hastings 11 0.42698 11 0.41867 10 0.38088 10 0.33147 10 0.58661 10 0.50077 10 0.50110 11 0.50515 11 0.50010 Inver Grove Heights 5 0.25453 5 0.27040 5 0.26377 5 0.25395 6 0.44637 5 0.40890 7 0.39904 6 0.37347 6 0.35546 Lakeville 1 0.19011 1 0.19119 1 0.19466 2 0.20079 3 0.34545 3 0.32944 3 0.30050 3 0.31326 3 0.31610 Mendota Heights 2 0.20940 2 0.21790 2 0.21500 1 0.19930 1 0.30860 1 0.28933 1 0.27989 1 0.27839 2 0.29157 Rosemount 10 0.40428 10 0.41710 11 0.39335 11 0.36553 11 0.59546 11 0.57123 11 0.52368 10 0.46041 10 0.43755 South St. Paul 7 0.29708 7 0.29827 6 0.27842 6 0.28244 7 0.44889 7 0.41264 5 0.39452 5 0.36913 4 0.34999 West St. Paul 3 0.24224 3 0.24823 3 0.25012 4 0.25205 5 0.44516 4 0.38716 9 0.41679 8 0.42289 8 0.42761 Dakota County n/a 0.27349 n/a 0.28322 n/a 0.27247 n/a 0.25320 n/a 0.33102 n/a 0.32463 n/a 0.30300 n/a 0.28267 n/a 0.26318 Rate 1989 Rate 1990 Rate 1991 Rate 1992 Rate 1993 Rate 1994 Rate 1995 Rate 1996 Rate 1997 Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Rank Tax Rates Apple Valley 8 0.22063 11 0.24587 8 0.24654 7 0.24677 7 0.24725 6 0.24539 7 0.25561 7 0.26570 8 0.30159 Burnsville 2 0.15725 3 0.18481 3 0.17902 2 0.18516 2 0.20095 2 0.20386 2 0.20754 3 0.21317 4 0.24411 Eagan 3 0.16273 2 0.17750 1 0.15856 1 0.18411 3 0.20423 4 0.22202 4 0.22234 4 0.22139 5 0.24569 Farmington 9 0.25430 10 0.24389 9 0.27428 11 0.31148 11 0.32219 11 0.34340 9 0.34627 9 0.34769 9 0.34904 Hastings 10 0.26119 7 0.22895 11 0.27960 9 0.26841 9 0.29005 10 0.32570 10 0.35089 11 0.37625 11 0.37884 Inver Grove Heights 4 0.16513 5 0.19169 5 0.20458 6 0.22209 6 0.23964 7 0.25047 6 0.24159 6 0.23684 6 0.24751 Lakeville 7 0.21523 9 0.23195 6 0.20811 3 0.19097 1 0.19871 1 0.20024 1 0.20147 1 0.19714 1 0.18200 Mendota Heights 1 0.13299 1 0.16574 2 0.17462 4 0.19350 4 0.20802 3 0.20881 3 0.21581 2 0.20598 2 0.19965 Rosemount 11 0.26879 6 0.22001 10 0.27705 10 0.29224 10 0.29810 9 0.32182 11 0.35778 10 0.36055 10 0.35627 South St. Paul 6 0.21236 8 0.22977 7 0.23943 8 0.25675 8 0.26497 8 0.28828 8 0.28632 8 0.28675 7 0.28085 West St. Paul 5 0.16558 4 0.18814 4 0.18558 5 0.20005 5 0.21439 5 0.22249 5 0.23284 5 0.23095 3 0.22126 Dakota County n/a 0.20721 n/a 0.21061 n/a 0.22542 n/a 0.25536 n/a 0.26558 n/a 0.27311 n/a 0.27994 n/a 0.26626 n/a 0.25721 City Payable 2018 Tax Rates City City City Dakota County Tax Rate Comparison Truth-in-Taxation 2018 2017 2018 Proposed 2017 2018Taxing District Tax Capacity Tax Capacity %MV Tax Proposed % Tax Rate Tax Rate Change Rate MV Tax Rate Change 19 Dakota County 0.28004 0.26540 -5.23% 200 Farmington 0.58760 0.57111 -2.81% 500 Inver Grove Heights 0.51644 0.51792 0.29% 600 Lakeville 0.37510 0.36748 -2.03% 1000 Rosemount 0.41832 0.40918 -2.18% 1100 South St Paul 0.63853 0.63588 -0.42% 1300 West St Paul 0.71412 0.69213 -3.08% 1600 Mendota Heights 0.38104 0.39422 3.46%0.0001297 0.0001206 -7.02% 1800 Burnsville 0.46557 0.43506 -6.55% 1900 Apple Valley 0.44473 0.42453 -4.54%0.0001967 0.0001798 -8.59% 2000 Eagan 0.37385 0.36352 -2.76%0.0001451 0.0001359 -6.34% 7500 Hastings 0.62518 0.61307 -1.94% Note: These rates do not include any special district levies. Rates may be higher in those areas. Final Pay 2016 Final Pay 2017 Total Taxable Tax Capacity Market Value Total Taxable Tax Capacity Market Value $ + / (-)$ + / (-)% + / (-)% + / (-) Market Value Value New Const.Market Value Value New Const.TTMV TCV TTMV TCV Apple Valley 4,464,893,416 50,578,728 29,747,500 4,669,204,881 52,809,471 81,012,100 204,311,465 2,230,743 4.58%4.41% Burnsville 5,506,514,039 70,791,596 20,480,500 5,670,777,401 72,210,663 19,074,800 164,263,362 1,419,067 2.98%2.00% Eagan 7,251,703,445 91,049,778 124,228,200 7,489,885,227 93,737,414 82,307,900 238,181,782 2,687,636 3.28%2.95% Farmington 1,601,441,554 17,298,609 23,446,800 1,685,287,604 18,171,280 14,159,900 83,846,050 872,671 5.24%5.04% Hastings 1,544,471,503 17,668,006 14,977,600 1,604,693,527 18,333,961 10,566,400 60,222,024 665,955 3.90%3.77% Inver Grove Hts 3,198,957,044 37,895,077 41,532,600 3,270,107,980 38,621,959 18,023,900 71,150,936 726,882 2.22%1.92% Lakeville 5,825,279,418 65,634,896 135,108,400 6,201,221,856 69,887,094 145,432,600 375,942,438 4,252,198 6.45%6.48% Mendota Hts 1,840,777,309 22,008,867 15,018,300 1,874,652,274 22,381,347 9,721,900 33,874,965 372,480 1.84%1.69% Rosemount 2,287,080,004 26,219,235 31,073,800 2,434,763,942 27,875,145 37,757,900 147,683,938 1,655,910 6.46%6.32% South St Paul 1,216,877,489 14,575,963 7,349,800 1,281,704,321 15,307,394 6,511,300 64,826,832 731,431 5.33%5.02% West St Paul 1,363,310,401 16,647,178 1,834,400 1,409,414,640 17,154,700 9,237,900 46,104,239 507,522 3.38%3.05% Final Pay 2017 Preliminary Pay 2018 (As of 2/24/17) Total Taxable Tax Capacity Market Value Total Taxable Tax Capacity Market Value $ + / (-)$ + / (-)% + / (-)% + / (-) Market Value Value New Const.Market Value Value New Const.TTMV TCV TTMV TCV Apple Valley 4,669,204,881 52,809,471 81,012,100 5,095,728,247 57,555,965 96,738,900 426,523,366 4,746,494 9.13%8.99% Burnsville 5,670,777,401 72,210,663 19,074,800 6,191,114,938 78,205,287 18,738,000 520,337,537 5,994,624 9.18%8.30% Eagan 7,489,885,227 93,737,414 82,307,900 8,068,064,363 100,786,721 77,121,300 578,179,136 7,049,307 7.72%7.52% Farmington 1,685,287,604 18,171,280 14,159,900 1,820,450,410 19,561,675 19,135,700 135,162,806 1,390,395 8.02%7.65% Hastings 1,604,693,527 18,333,961 10,566,400 1,739,227,518 19,721,850 6,796,900 134,533,991 1,387,889 8.38%7.57% Inver Grove Hts 3,270,107,980 38,621,959 18,023,900 3,570,051,165 41,950,967 34,385,600 299,943,185 3,329,008 9.17%8.62% Lakeville 6,201,221,856 69,887,094 145,432,600 6,723,656,449 75,644,078 176,822,300 522,434,593 5,756,984 8.42%8.24% Mendota Hts 1,874,652,274 22,381,347 9,721,900 1,986,235,142 23,616,937 17,387,400 111,582,868 1,235,590 5.95%5.52% Rosemount 2,434,763,942 27,875,145 37,757,900 2,596,431,786 29,624,097 44,013,800 161,667,844 1,748,952 6.64%6.27% South St Paul 1,281,704,321 15,307,394 6,511,300 1,428,318,062 16,883,678 6,208,000 146,613,741 1,576,284 11.44%10.30% West St Paul 1,409,414,640 17,154,700 9,237,900 1,604,060,892 19,287,875 21,142,100 194,646,252 2,133,175 13.81%12.43% Final Pay 2017 Final Pay 2018 Total Taxable Tax Capacity Market Value Total Taxable Tax Capacity Market Value $ + / (-)$ + / (-)% + / (-)% + / (-) Market Value Value New Const.Market Value Value New Const.TTMV TCV TTMV TCV Apple Valley 4,669,204,881 52,809,471 81,012,100 0 0 0 (4,669,204,881)(52,809,471)-100.00%-100.00% Burnsville 5,670,777,401 72,210,663 19,074,800 0 0 0 (5,670,777,401)(72,210,663)-100.00%-100.00% Eagan 7,489,885,227 93,737,414 82,307,900 0 0 0 (7,489,885,227)(93,737,414)-100.00%-100.00% Farmington 1,685,287,604 18,171,280 14,159,900 0 0 0 (1,685,287,604)(18,171,280)-100.00%-100.00% Hastings 1,604,693,527 18,333,961 10,566,400 0 0 0 (1,604,693,527)(18,333,961)-100.00%-100.00% Inver Grove Hts 3,270,107,980 38,621,959 18,023,900 0 0 0 (3,270,107,980)(38,621,959)-100.00%-100.00% Lakeville 6,201,221,856 69,887,094 145,432,600 0 0 0 (6,201,221,856)(69,887,094)-100.00%-100.00% Mendota Hts 1,874,652,274 22,381,347 9,721,900 0 0 0 (1,874,652,274)(22,381,347)-100.00%-100.00% Rosemount 2,434,763,942 27,875,145 37,757,900 0 0 0 (2,434,763,942)(27,875,145)-100.00%-100.00% South St Paul 1,281,704,321 15,307,394 6,511,300 0 0 0 (1,281,704,321)(15,307,394)-100.00%-100.00% West St Paul 1,409,414,640 17,154,700 9,237,900 0 0 0 (1,409,414,640)(17,154,700)-100.00%-100.00% Tax Value Information City City Tax Value Information City Final Pay 2018 Preliminary Pay 2019 (As of x/xx/18) Total Taxable Tax Capacity Market Value Total Taxable Tax Capacity Market Value $ + / (-)$ + / (-)% + / (-)% + / (-) Market Value Value New Const.Market Value Value New Const.TTMV TCV TTMV TCV Apple Valley 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Burnsville 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Eagan 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Farmington 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Hastings 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Inver Grove Hts 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Lakeville 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Mendota Hts 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Rosemount 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! South St Paul 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! West St Paul 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Final Pay 2018 Final Pay 2019 Total Taxable Tax Capacity Market Value Total Taxable Tax Capacity Market Value $ + / (-)$ + / (-)% + / (-)% + / (-) Market Value Value New Const.Market Value Value New Const.TTMV TCV TTMV TCV Apple Valley 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Burnsville 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Eagan 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Farmington 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Hastings 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Inver Grove Hts 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Lakeville 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Mendota Hts 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Rosemount 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! South St Paul 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! West St Paul 0 0 0 0 0 0 0 0 #DIV/0!#DIV/0! Tax Value Information City City Payable 2006 Payable 2007 %Payable 2008 %Payable 2009 %Payable 2010 %Payable 2011 %Payable 2012 % Median Median Change Median Change Median Change Median Change Median Change Median Change Apple Valley 224,800 239,900 6.72%241,400 0.63%235,500 -2.44%217,800 -7.52%203,800 -6.43%197,400 -3.14% Burnsville 229,800 240,800 4.79%244,900 1.70%238,500 -2.61%219,200 -8.09%202,400 -7.66%197,500 -2.42% Eagan 243,400 257,900 5.96%262,000 1.59%257,000 -1.91%240,000 -6.61%226,100 -5.79%222,200 -1.72% Farmington 212,600 226,900 6.73%229,400 1.10%223,200 -2.70%201,700 -9.63%183,300 -9.12%176,000 -3.98% Hastings 196,400 205,100 4.43%206,900 0.88%203,600 -1.59%188,000 -7.66%173,200 -7.87%165,500 -4.45% Inver Grove Hts 225,100 237,900 5.69%239,000 0.46%238,300 -0.29%214,300 -10.07%201,200 -6.11%196,100 -2.53% Lakeville 262,000 278,300 6.22%280,900 0.93%272,100 -3.13%252,700 -7.13%234,600 -7.16%230,000 -1.96% Mendota Hts 332,500 356,800 7.31%373,200 4.60%364,400 -2.36%337,400 -7.41%318,600 -5.57%301,250 -5.45% Rosemount 236,300 250,000 5.80%260,300 4.12%253,800 -2.50%231,400 -8.83%213,300 -7.82%200,800 -5.86% South St Paul 183,400 196,400 7.09%198,600 1.12%191,700 -3.47%175,700 -8.35%155,900 -11.27%151,200 -3.01% West St Paul 194,200 207,400 6.80%209,900 1.21%204,500 -2.57%185,900 -9.10%173,500 -6.67%168,400 -2.94% Payable 2012 Payable 2013 %Payable 2014 %Payable 2015 %Payable 2016 %Payable 2017 %Payable 2018 % Median Median Change Median Change Median Change Median Change Median Change Median Change Apple Valley 197,400 186,000 -5.78%192,500 3.49%208,100 8.10%217,800 4.66%224,100 2.89%239,100 6.69% Burnsville 197,500 184,600 -6.53%191,200 3.58%208,900 9.26%214,500 2.68%221,600 3.31%238,200 7.49% Eagan 222,200 208,400 -6.21%213,600 2.50%233,200 9.18%240,900 3.30%247,400 2.70%261,900 5.86% Farmington 176,000 167,000 -5.11%171,700 2.81%192,500 12.11%206,000 7.01%215,900 4.81%231,100 7.04% Hastings 165,500 156,600 -5.38%152,200 -2.81%171,400 12.61%177,800 3.73%184,200 3.60%198,600 7.82% Inver Grove Hts 196,100 180,600 -7.90%180,500 -0.06%195,600 8.37%206,050 5.34%213,550 3.64%232,250 8.76% Lakeville 230,000 216,900 -5.70%226,300 4.33%247,650 9.43%253,000 2.16%266,700 5.42%284,400 6.64% Mendota Hts 301,250 290,700 -3.50%302,700 4.13%319,000 5.38%334,700 4.92%342,500 2.33%363,000 5.99% Rosemount 200,800 195,700 -2.54%204,500 4.50%221,950 8.53%236,900 6.74%248,900 5.07%261,550 5.08% South St Paul 151,200 137,700 -8.93%136,400 -0.94%154,300 13.12%153,700 -0.39%160,900 4.68%177,700 10.44% West St Paul 168,400 150,000 -10.93%146,800 -2.13%156,800 6.81%169,600 8.16%173,700 2.42%191,000 9.96% Median Value Home Information City City