2027 Property Tax Levy Increase
Summary
The EDA levies its own separate property tax for economic development, capped at 0.0185% of the city's market value. The board kept it flat at $550,000, so a median home still pays about $20 a year.
At a glance
- Total mentions
- 3
- Last 30 days
- 0
Discussed at 1 meeting in the last 60 days; most recently Sep 15, 2026.
Impact analysis
About $20 a year in property taxes on a median-value home ($375,300) — no change from 2026.
All Shakopee property owners get a stable tax rate, and local businesses benefit from EDA programs like facade loans and entrepreneurship support.
Property owners face continued annual tax increases as staffing-driven costs grow.
Mentions & discussions (3)
City Council - Sep 15, 2026
The council set the maximum 2027 levy at $30.1 million, up 6.85% — down from 8.65% after cuts. Half the increase funds the transition to 24/7 staffing at both fire stations; typical homeowners will see about $52 more a year, largely from rising home values.
Economic Development Authority - Sep 1, 2026
The EDA levies its own separate property tax for economic development, capped at 0.0185% of the city's market value. The board kept it flat at $550,000, so a median home still pays about $20 a year.
City Council - May 19, 2026
The city's six-year-old financial plan projects needing roughly a 4% annual property tax increase to keep fund balances at target. Good news: Shakopee's tax rate has dropped since 2017, its total cost of services for a $350,000 home is the lowest among peer cities, and tax capacity grew 106% in a decade.
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