2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

Table 5

TAX CAPACITY AND TAXABLE MARKET VALUE OF TAXABLE PROPERTY Last Ten Fiscal Years

Tax

Less: Fiscal

Capacity as a Percentage of

Commercial

Less:

Net Adjusted

Total Direct

Taxable Market

Fiscal

Residential Property (a)

Industrial Property

Other

Tax Increment

Disparity

Tax

Taxable

Year

Property (b)

Property Contribution (c) Capacity (d)

Tax Rate

Value

Market Value

2015 26,419,959 $

$ 18,769,230

$ 625,872

$ 408,172 2,068,024 $

$ 43,338,865

0.37862

$ 3,629,757,200

1.19%

2016 27,838,939

20,111,657

670,839

384,578 2,409,936

45,826,921

0.37902

3,843,037,400

1.19%

2017 28,199,409

23,224,857

608,016

827,765 2,219,811

48,984,706

0.38522

4,034,313,200

1.21%

2018 30,219,157

25,188,979

1,108,269

1,330,932 3,647,951

51,537,522

0.37212

4,341,199,500

1.19%

2019 32,113,022

27,026,224

1,084,001

1,657,341 3,923,222

54,642,684

0.34943

4,613,605,800

1.18%

2020 35,763,301

29,170,963

1,106,038

1,953,037 4,269,143

59,818,122

0.33965

5,063,434,500

1.18%

2021 38,756,283

32,123,467

1,819,208

2,554,354 5,102,644

65,041,960

0.32105

5,537,836,867

1.17%

2022 42,796,326

34,709,876

1,410,279

2,749,307 6,139,141

70,028,033

0.32111

6,044,797,135

1.16%

2023 54,133,179

36,878,916

1,255,486

3,393,736 6,235,453

82,638,392

0.28585

7,215,756,805

1.15%

2024 55,770,305

45,054,143

1,275,678

2,862,355 6,665,042

92,572,729

0.27402

7,782,044,997

1.19%

Source: Scott County Assesor/Auditor

By State Statute, property taxes are calculated and collected based on the prior year's assessor market value.

(a) Includes single-family homes, townhouses, apartments and residential vacant land. (b) Includes personal property, agricultural, railroad and utility classifications. (c) Figure represents fiscal disparities contribution net of fiscal disparities distribution. The City of Shakopee is a net contributor. (d) Figure represents total tax capacity less net fiscal disparities. Note that total direct tax rate in the next column is calculated based on total tax capacity less fiscal disparities contribution and less tax capacity in TIF districts.

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