Laserfiche WebLink
Item No. 2 <br />Meeting Date: September 2, 2025 <br />Type of Business: Council Work Session <br />City Administrator Review: ______ <br /> <br />City of Mounds View Staff Report <br /> <br />To: Honorable Mayor and City Council <br />From: Gayle Bauman, Finance Director <br />Item Title/Subject: Review Levy Scenarios and Budget for 2026 <br /> <br />COUNCIL CONSIDERATION <br />Staff is requesting City Council to review and provide feedback on the levy scenarios included in this memo for <br />2026. <br /> <br />BUDGET <br />The budget has not had any significant changes since the July work session. The couple of minor changes <br />requested at the work session were made and changes have been made to wages and benefits to reflect the <br />preliminary Sergeants agreement and to account for the promotion and increased hours for one of the city hall <br />front desk employees. Labor negotiations are still ongoing with Patrol and Public Works. <br /> <br />TAX LEVY <br />City staff has received preliminary value information from the County and are now able to put together some <br />projections on different tax levy increase amounts. <br /> <br />All scenarios include a decrease to the debt service levy of $2,688. All other levies outside of the General Fund <br />are set to remain the same as 2025. The tables below show the potential annual impacts to different valued <br />properties. The lines highlighted in green represent a median valued home in Mounds View. <br /> <br />Scenario #1 <br />Set maximum levy at 6.00% (hopefully this is sufficient to cover any Patrol or Public Works agreements). <br />The City will be utilizing 100% of LGA for operations. <br /> <br /> <br /> <br />% levy increase Total levy amt $ levy increase <br />6.00%7,920,426$ 448,326$ <br />Value of Value of Taxable <br />Property for Property for Value for $ % <br />Pay 2025 Pay 2026 Pay 2026 Pay 2025 Pay 2026 CHANGE CHANGE <br />90,000$ 93,500$ 56,100$ 228$ 242$ 14$ 6.0% <br />160,000$ 166,300$ 134,700$ 527$ 567$ 40$ 7.6% <br />240,000$ 249,400$ 225,300$ 879$ 941$ 62$ 7.1% <br />324,100$ 336,800$ 320,600$ 1,249$ 1,334$ 85$ 6.8% <br />400,000$ 415,700$ 406,600$ 1,583$ 1,689$ 107$ 6.7% <br />500,000$ 519,600$ 519,600$ 2,023$ 2,175$ 152$ 7.5% <br />600,000$ 623,500$ 623,500$ 2,530$ 2,708$ 178$ 7.0% <br />CITY TAX