HomeMy WebLinkAbout26-128 Approving a Resolution Adopting 2027 City Budgets and Certifying Preliminary 2027 City of Prior LAke Property Tax Levy
4646 Dakota Street SE Prior Lake, MN 55372
RESOLUTION 26-128 A RESOLUTION ADOPTING 2027 CITY BUDGETS AND CERTIFYING PRELIMINARY 2027 CITY OF PRIOR LAKE PROPERTY TAX LEVY TO SCOTT COUNTY DEPARTMENT OF TAXATION Motion By: Lake Second By: Churchill WHEREAS, State statute requires that the Prior Lake City Council certify a proposed property tax levy to the Scott County Department of Taxation; and WHEREAS, preliminary budget amounts for the City of Prior Lake for calendar year 2027 are estimated as follows; and
General Fund $ 25,564,503 Debt Service Funds 5,493,406 Cable Fund 13,700 Capital Park Fund 1,605,600 Revolving Equipment Fund 3,185,640 Revolving Park Equipment Fund 630,000 Permanent Improvement Revolving Fund 424,900 Facilities Management Fund 2,154,760 Water Fund 6,931,564 Sewer Fund 6,741,228 Water Quality Fund 2,330,912 Total $ 55,076,213
WHEREAS, the proposed property tax levy for the City of Prior Lake for payable year 2027 is
as follows; and
General Purposes $ 16,864,136 Revolving Equipment Fund 1,025,000 Revolving Park Equipment Fund 655,000 Permanent Improvement Revolving Fund - Facilities Management Fund 355,000 Debt Service 3,728,643
Total $ 22,627,779
WHEREAS, WHEREAS,
the proposed City of Prior Lake property tax levy for the year payable 2027 of $22,627,779 represents a $1,290,646 or 6.05% increase; and the City Council will consider the 2027 General Fund, Debt Service Funds, Cable Fund, Capital Park Fund, Revolving Equipment Fund, Revolving Park Equipment
Fund, Permanent Improvement Revolving Fund, Facilities Management Fund and Enterprise Fund Budgets and the Final 2027 Property Tax Levy during its regularly
scheduled council meeting at 7:00 p.m. on Tuesday December 8, 2026 at 4646 Dakota Street SE, Prior Lake with a continuation (if necessary) at 7:00 p.m. on December 22, 2026.
M:\2- City Clerk\City Council\Resolutions\2026\26-128 Approving a Resolution Adopting 2027 City Budgets and Certifying Preliminary 2027 City of Prior LAke
Property Tax Levy.docx 2
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA as follows: 1. The recitals set forth above are incorporated herein. 2. That the proposed tax levy be distributed upon the taxable property in said City for the following purposes in payable 2027:
Note: Single starred funds shall be spread over the entire consolidated City of Prior Lake. Note: Double starred funds represent market value-based referendum taxes and shall be spread
over the entire consolidated City of Prior Lake. Note: All other bond issues have sufficient fund balances to cover debt requirements. Passed and adopted by the Prior Lake City Council this 8th day of September 2026. VOTE Briggs Braid Churchill Lake Hellier
Aye ☒ ☐ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☒ ☐ ☐ ☐
______________________________ Jason Wedel, City Manager
Purpose Amount Amount * General City Purposes 16,864,136 * Revolving Equipment Fund 1,025,000 * Revolving Park Equipment Fund (Park Equipment & Trail Replacement) 655,000
* Permanent Improvement Revolving Fund (Street Overlay) - * Facilities Management Fund 355,000 Debt Service: * F563-G.O. Imp Bonds 2015B (150th/13) 587,405 * F568-G.O. Imp Bonds 2017A (Cates, Balsam, Franklin, Sycamore) 263,881 * F570-G.O. Imp Bonds 2018A (Equip, CIP, Imp, Street Recon) 504,617 * * * *
F572-G.O. Imp Bonds 2019A (Street and Capital Improvements) F574-G.O. Imp Bonds 2021A (Street, Equipment, Refunding) F575-G.O. Imp Bonds 2021B (Refunding) F576-G.O. Imp Bonds 2022A (Street and Capital Improvements)
206,977 265,082 718,863 171,053
* * F580-G.O. Imp Bonds 2025A (Wilds Pkwy, Martindale/Henning) F581-G.O. Bonds 2026A (Northwood, Green Heights, Facilities) 138,073 598,704
** F318-Fire Station #2 Referendum Bonds ‘06 273,988
Total Debt Service 3,728,643
Total $ 22,627,779