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Lakeville council adopts 2026 budget and property tax levy; median home to see ~$75 city portion increase
Summary
The council adopted a $51,986,475 2026 levy (6.4% increase) and the 2026 budget; staff said valuation growth and new construction contributed to the tax base and outlined uses including general operations, capital maintenance and debt service.
Lakeville City Council adopted the 2026 budget and property tax levy during its Dec. 1 Truth in Taxation hearing. Finance staff briefed the council on key figures: a total levy of $51,986,475 (a 6.4% increase over 2025) driven by valuation growth and new construction; staff said a 3.4% valuation increase across existing properties plus 2% from new construction resulted in a 5.4%…
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