2019 City of Shakopee Budget

11

Scott County provides the staff with tax impact estimates for residential homestead properties. Residential property values increased on average 5.3 percent from Jan. 1, 2017, to Jan. 1, 2018, for taxes payable 2019. The average market value home in Shakopee increased from $242,100 to $255,000. Residential values are increasing for taxes payable 2018. The chart below provides the average percentage change in value for residential properties from taxes payable 2018 to taxes payable 2019. These percentage changes are strictly the averages within each value range. Individual properties valuations will likely be more or less than the averages.

Average of Net % Change  for pay 2019

Payable 2018 Value Properties in Category

<$100,000

147

4.1%

100000‐149999 150000‐199999 200000‐249999 250000‐299999 300000‐399999 400000‐499999 500000‐699999 700000‐999999

1,377 3,428 2,478 1,597 2,279

10.5%

8.0% 5.0% 3.9% 3.3% 2.4% 2.8%

582 150

7 2

10.7%

>$999,999 Grand Total

8.3% 5.3%

12,047

The chart below provides a comparison of the proposed 2019 levy for three different valued homes including the average value home of $255,000.