ROCHESTER - Rochester is looking at a 9.4% property tax levy increase to offset the rising costs of ongoing programs.
Rochester proposes a 9.4% property tax hike
City officials say the increase offsets rising costs to maintain city programs.
July 19, 2023 at 4:02PM
City officials recommended the increases to the City Council at a study session Monday as part of its preliminary 2024 budget estimates. It's unclear how homeowners and businesses would be affected by the tax increase – totaling an additional $8.8 million in revenue – as new developments will cover part of the proposed levy.
The levy increase would largely pay for increased public safety costs and flood control, as well as general city costs and public works. City officials estimate those costs will rise by $9.2 million next year.
At the same time, Rochester's overall spending is projected to shrink by close to $40 million. City officials are looking to budget about $560 million for next year.
The council reviewed potential public works spending on Monday — Rochester proposes using $153 million on public works projects in 2024 — and will review other parts of the proposed budget over the next few months.
The council is expected to set a preliminary budget and tax levy in September and finalize the city's 2024 finances by the end of the year.
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