Ramsey County assesses property value shifts for 2026 budget planning

The Roseville City Council convened on July 7, 2025, to discuss key financial updates and budget considerations for the upcoming year. A significant focus of the meeting was the preliminary assessed market valuations released by the Ramsey County assessor's office, which indicated a 4.61% increase in property values across all classifications. This rise is particularly noteworthy as it surpasses the valuation increases from the previous year, suggesting a positive trend in the local real estate market.

The council highlighted that single-family homesteaded homes are projected to see an increase in value of $18,200, or 5.05%, bringing the average assessed value to $378,600. While residential properties are experiencing growth, the commercial sector has shown mixed results, with retail and industrial properties increasing in value, while office valuations have decreased. This complex landscape underscores the balancing act the city faces in managing its tax capacity, where 40% is derived from residential properties and 60% from other classifications.

In addition to property valuations, the council addressed the upcoming 2026 budget, which will incorporate standard cost-of-living adjustments of 3% for non-union employees, alongside anticipated increases in healthcare and other inflationary costs. The city manager is currently negotiating two union contracts, with hopes of including these in the budget. The council also noted the absence of state bonding for the Oval project, which has been resubmitted for consideration in the next bonding bill.

As the council prepares for the finalization of the budget, they are seeking to provide clarity and transparency to the public regarding the financial implications of these assessments and decisions. The next steps will involve further discussions and the release of additional data in August, which will help frame the budgetary landscape for the community. Overall, the meeting underscored the importance of understanding property value trends and their impact on local taxation and budgeting strategies.