The City budget is the financial plan for the City’s General Fund for the coming year that provides city services, such as police and fire services, street and park maintenance, planning and zoning, and elections administration, to name a few. Preparation of a City budget is mandated by state statute.
The budget process begins in the early spring when valuation notices are mailed by Hennepin County to Shorewood property owners. The Hennepin County assessor’s office determines the value of each property in Shorewood. Visit the County’s website at www.hennepin.us/residents/property/assessment to view a short video describing how property values are determined.
To address valuation concerns, the City of Shorewood uses the Open Book meeting format, which allows property owners to address questions about their property assessment with Hennepin County assessing staff on a one-on-one basis. Property owners may appeal their value to the County Board of Appeal and Equalization if they are not satisfied after meeting with assessing staff.
In June and July, City staff begin preparing the following year’s budget. City staff members work with City Council to develop a plan that prioritizes city services and community goals, while maintaining responsible spending. The proposed budget takes into account resident feedback and that which the City Council and staff have received regarding services, public improvements, and community needs. The City Council has final authority for adopting the annual budget and establishing the property tax levy.
The budget proposal and preliminary tax levy are discussed with the City Council in August and September of each year. By the end of September, the Council must adopt its preliminary tax levy for the following year. At this point, the levy cannot be increased but it may be decreased. In November, Hennepin County mails Truth in Taxation hearing notices to property owners. In early December, the City Council holds the Truth in Taxation hearing to receive comments on the annual budget. The Council then adopts its annual budget and certifies its levy to the County and State.
It is important to remember the City’s budget only makes up a portion of your property taxes. The County and School districts, along with smaller taxing jurisdictions, such as a watershed district, rely on property taxes as well.
For more information about the City budget, process, and meetings, and to sign up for City budget updates, visit shorewoodMN.gov/CityBudget.