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Lakeville council adopts preliminary $52.3 million levy, sets Dec. 1 truth‑in‑taxation hearing
Summary
The Lakeville City Council on Sept. 2 approved a preliminary 2026 property tax levy of $52,300,000 and set a Dec. 1 public hearing for final levy adoption; officials said tax base growth offsets much of the increase and estimated a median‑valued homeowner would pay about $81 more per year.
The Lakeville City Council voted unanimously Sept. 2 to adopt a preliminary 2026 property tax levy of $52,300,000 and to set a truth‑in‑taxation public hearing for Dec. 1 at 6 p.m. in council chambers.
Finance Director Ms. Stahl told the council the city’s growing tax base was absorbing most of the levy increase. "The impact to the median‑value home, which now is a $468,000 home in Lakeville, is roughly $81 a year," she said. Stahl also said the preliminary levy as approved tonight will be used to prepare the property tax notices mailed by the county; the council may reduce but cannot increase that levy before final adoption.
Council members praised staff for a conservative approach to the budget and for trimming requested positions. Councilmember Joshua Lee called the proposal "prudently prepared," noting the levy rate increase is smaller than last year’s. Ms. Stahl said three new positions are included in the budget packet and that more detailed numbers from departments are in the council packet.
The council’s action establishes the levy for the Truth‑in‑Taxation process; the final levy will be adopted after the Dec. 1 public hearing. The director said the city may reduce the levy between now and November, but cannot raise it after tonight’s adoption.
