- Home
- City Services
- Departments
- Finance
- City Budget
- 2024 Preliminary Annual Budget
2024 Preliminary Annual Budget
The City Council reviewed the proposed 2024 city budget at a workshop meeting at 4 p.m. on Sept. 13 at the Public Safety facility's education and training conference rooms at 2100 Radio Drive. At the workshop, the Council discussed city services and funding levels for 2024, as well as a variety of issues that impact the 2024 property tax levy.
The preliminary property tax levy for truth-in-taxation purposes was adopted at the Sept. 27 City Council meeting.
Recently at the Nov. 15 City Council workshop, Council gave direction to move forward with the adopted preliminary property tax levy. Also, expenditures and revenue revisions were presented for several funds based on current estimates for project costs and services plus other reclassifications and adjustments.
Budget data presented within the budget tabs below is reflective of the adoption of the 2024 preliminary property tax and budget revisions from the Nov. 15 workshop meeting and will be different than the information prepared in the 2024 Proposed Annual City Budget document.
Next Steps
A truth-in-taxation public meeting scheduled for the Dec. 13 City Council meeting at 7 p.m. The City Council also will adopt the property tax levy and budget for 2024 at the same Dec. 13 meeting.
Documents
More Information
The full proposed budget document can be viewed in person at City Hall (8301 Valley Creek Road) and the R.H. Stafford (Washington County) Library, 8595 Central Park Place. For more information, call the Finance Division at 651-714-3507 or send an email.
As part of the 2024 budget process, annual rate adjustments are considered to appropriately maintain funding levels for city services such as: emergency medical services (EMS), water and sewer utility, storm water utility, street lighting utility, and our city-run ice / field house arena and golf course. Since these public services are not funded by tax dollars, except for EMS which is partially funded by the tax levy, they are supported by rates and fees. Several rate increase considerations are included with the proposed 2024 budget and were presented to Council at the workshop meeting.
The most significant rate consideration relates to increasing the water and sewer utility rates.
The water rates are proposed to change as follows:
A $1.35 per quarter city sanitary sewer flat rate increase is also proposed. The proposed increases are needed to fund the replacement and maintenance of water and sewer infrastructure based on the proposed capital improvement plan.
The wastewater treatment cost pass-thru from the Metropolitan Council Environmental Services is proposed to increase $1.75 per quarter and $0.23 per 1,000 gallons over 8,000 gallons.
Irrigation rates are proposed to increase $0.48 per 1,000 gallons. Incremental irrigation rate increases have been implemented to support the city's water conservation educational and incentive programs. This rate increase is a proposed continuation of those efforts.
The quarterly storm water utility charges are also proposed to increase $1.55 per quarter to support the funding of storm water pond maintenance programs and replacement of storm water infrastructure.
The Street Lighting Utility Fund provides residential street lighting in the majority of the city. The operating budget accounts for the charges paid to Xcel Energy and then allocated to residents as part of the quarterly residential utility bill. Due to the impact from the current interim rate increase from Xcel Energy and the anticipated electric rate case settlement, a $0.60 per quarter rate increase is proposed for the single-family home street lighting utility rate. The last increase for residential street lighting was implemented in 2010.
A four percent rate increase is proposed for Emergency Medical Services (EMS). Personnel costs, operational cost and mandatory discounts from Medicare and Medicaid insurance programs factor into the proposed rate increase.
These potential impacts were discussed in detail at the workshop meeting and any increases will be presented for approval at the Council meeting on Dec. 13 with the adoption of the 2024 Fee Ordinance.
The preliminary 2024 total levy is $48,372,932 or 8.2 percent above last year, which is above our 15-year historic average increase of 4.1 percent. With the growth in taxable market valuations and the derivative net tax capacity, the property tax levy impact to the median value home is 4.2 percent or $51 (see the Levy and Taxes section for more detail). The chart below illustrates how the preliminary 2024 property tax levy change compares to previous years.
The preliminary budget reflects an increase of 8.7 percent in the General Fund, which is the primary operating budget of the city. For 2024, the General Fund budget is estimated to be $51,721,100. This compares to the $47,572,600 budget for 2023.
Net property taxes at $36.5 million account for 71 percent of the General Fund revenues. This is an increase of $3.5 million from the General Fund budget for 2023. Other sources of revenue include development and permit fees from new home and business construction, intergovernmental and miscellaneous revenues, charges for various services, and transfers from other funds.
Total preliminary city budget expenditures for 2024 are estimated at $156,012,914. This includes the General Fund and all other city funds, such as the emergency medical services, water and sewer utility, storm water utility, Eagle Valley Golf Course, sports center, and others. For more detail on any of the proposed budgeted funds, refer to the full budget document under the documents section above.
Fund | Adopted 2023 | Preliminary 2024 |
---|---|---|
General | $47,572,600 | $51,721,100 |
Lawful Gambling Contribution | $ - | $20,000 |
Administration Fee | $801,300 | $851,300 |
Public Safety Training Center | $63,000 | $110,000 |
Opioid Settlement | $ - | $143,200 |
Public Safety Activities | $230,800 | $513,200 |
EMS Fire | $3,512,300 | $4,179,300 |
Destination Marketing Organization | $ - | $526,800 |
Housing and Urban Development | $449,500 | $511,800 |
Economic Development Authority | $79,000 | $48,000 |
Housing and Redevelopment Authority | $813,150 | $811,500 |
Park Dedication | $1,147,200 | $350,600 |
Parks and Trails Replacement | $2,848,100 | $3,515,000 |
Community Investment | $ - | $35,854,500 |
Capital Improvement | $5,807,400 | $9,870,000 |
MSA Roadway Construction | $6,424,400 | $5,605,300 |
Street Reconstruction / Maintenance | $29,564,300 | $6,381,900 |
Tax Abatement Plan I-94 Region | $3,852,100 | $382,500 |
Water & Sewer Utility | $23,580,890 | $16,823,914 |
Storm Water Utility | $6,007,400 | $4,181,800 |
Street Lighting Utility | $653,600 | $676,600 |
Sports Center | $1,871,600 | $2,312,000 |
Eagle Valley Golf Course | $2,420,600 | $2,834,600 |
Risk Management | $2,454,900 | $2,754,900 |
Debt Service Funds | $5,039,500 | $5,033,100 |
Total | $145,193,640 | $156,012,914 |
City taxes on a residential parcel valued at $419,000 - the median value for taxes payable in 2023 - are estimated to increase $51 in 2024. This assumes the parcel experiences a nine percent increase in estimated market value.
City taxes constitute about 25 percent of the total property tax bill for Woodbury homeowners residing in the South Washington School District (amounts will vary somewhat for other school districts). It's important to note that market values, and thus taxes, do not increase or decrease the same for all properties. The net city tax may increase if a property has a market value increase due to improvements that add value, such as finishing a basement or adding a three-season porch.
Actual Taxes Payable 2023
$321,200 Residential Value | Median Residential Value | $458,800 Residential Value | $504,700 Residential Value | |
---|---|---|---|---|
Estimated Market Value | $321,200 | $419,000 | $458,800 | $504,700 |
Homestead Value Exclusion | $8,300 | $ - | $ - | $ - |
Taxable Market Value | $312,900 | $419,000 | $458,800 | $504,700 |
Net City Tax | $915 | $1,225 | $1,341 | $1,478 |
Estimated Taxes Payable in 2024
$350,000 Residential Value | Median Residential Value | $500,000 Residential Value | $550,000 Residential Value | |
---|---|---|---|---|
Estimated Market Value | $350,000 | $456,600 | $500,000 | $550,000 |
Homestead Value Exclusion | $5,700 | $ - | $ - | $ - |
Taxable Market Value | $344,300 | $456,600 | $500,000 | $550,000 |
Net City Tax | $963 | $1,276 | $1,398 | $1,572 |
Estimated Dollar Change
$350,000 Residential Value | Median Residential Value | $500,000 Residential Value | $550,000 Residential Value | |
---|---|---|---|---|
Dollar Change | $48 | $51 | $57 | $94 |