Board certifies 2025 preliminary levy at $73.98 million; homeowners shown estimated tax impacts

The Minnetonka School Board voted Wednesday to certify its 2025 payable‑2026 preliminary property tax levy at the maximum amount authorized by statute — $73,984,619.12 — a 5.45% increase from the prior year. Executive Director of Finance and Operations Paul Bourgeois walked the board through the levy components and estimated tax impacts for homeowners. "This levy that we're looking at . . . will be proposing to levy $29,500,000" for the operating referendum, Bourgeois said, noting an operating‑referendum prior‑year adjustment brings the total operating‑referendum amount to roughly $30,379,000. Other major components presented included local optional revenue (about $9,000,000), the technology (capital projects) referendum (about $10,412,000), and debt service for general obligation bonds (about $12,457,000). Bourgeois explained drivers of the increase: enrollment growth and inflation adjustments raised operating referendum dollars; rising property values and a new debt service payment increased the capital levy. He described the levy as the maximum the district may levy at this stage; the board may lower the levy when it adopts the final levy in December. Staff provided sample homeowner impacts assuming constant assessed values: a home valued at $300,000 would see an estimated $88 annual increase under the proposed levy; $500,000 yields $147; $700,000 yields $212; and $900,000 yields $277. Bourgeois emphasized that reassessments and new construction can alter individual tax bills. The board adopted the motion to certify the preliminary levy by voice vote; staff must file the certified preliminary levy with the Hennepin County auditor by Sept. 30. Bourgeois noted that some levy adjustments are typically finalized in October and the board included statutory language that allowed a hold harmless adjustment to account for state-calculated changes.