Work SessionItem 1Outcome pending
Presentation of the 2024 Revised/2025 Proposed Budget and Tax Levy
The City Manager and finance staff were scheduled to present the completed 2024 Revised and 2025 Proposed Budget and Tax Levy to the City Council at this work session for review and direction. The proposed 2025 tax levy was expected to be discussed as a 5.36% increase over the 2024 levy, totaling $29,882,318, with a proposed General Fund budget of $32,730,849 representing a 5.93% increase. The work session was intended to allow Council members to ask questions and provide direction before a formal approval vote scheduled for the September 10, 2024 City Council meeting.
final tally arrives when the city publishes the minutes
Part of an ongoing matter · 4 related discussions
Key figure: $29,882,318 — Proposed total 2025 tax levy, a 5.36% increase over the 2024 levy
Potential benefit
If adopted as proposed, the budget would fund city services, capital improvements, and equipment replacement. The General Fund budget would grow to $32.7 million to sustain and improve city operations, and the County taking over assessment responsibilities was noted as a factor reducing some department costs.
Concern to consider
The proposed 5.36% levy increase would raise the estimated annual city tax bill for the owner of an average Richfield home from $1,657 to $1,776 — an increase of approximately $119 per year — continuing a historical average levy increase trend of 5.57% annually.
What happens next: The City Council was scheduled to vote on the 2024 Revised/2025 Proposed Budget and preliminary tax levy at the September 10, 2024 City Council meeting. This work session was meant to gather Council feedback and direction prior to that vote.
Sources: Work Session agenda (city portal) ↗