The Sherburne County Board Tuesday approved the final 2018 property tax levy in the amount of $46,350,191 - a 4.2% increase over the 2017 levy.

 

The number was reduced twice to get to the final amount.

 

The original levy request presented at the August 1-2 workshop meeting demonstrated a 5.77% levy increase, with the primary drivers being wages and benefits. 

 

Staff worked with the county board to lower the  increase to 4.50% and the preliminary levy of $49,483,457 was adopted in September.

 

The amount was further reduced since that time, partly due to a drop of approximately $200,000 in workers’ compensation premiums, an additional $250,000 in expected investment income and additional revenue from a variety of sources, including vacancy savings.

 

Administrator Steve Taylor said the increase is due to a number of factors. The average countywide residential values have increased approximately 6.7% for taxes payable in 2018 and the latest demographic numbers indicate a 2.1% population growth rate, which is three times the state average. 

 

Building and new home permits continue to trend upward. County-wide there were 83 new home permits in 2011. That number grew to 375 in 2016. The county also saw approximately $92.9 million of new construction projects added to the tax rolls for taxes payable in 2018 and permit activity is trending upwards again in 2017 (for taxes payable 2019).

 

“We’re growing. That’s a good thing. Our (property) values are going up and we have increased demands for services,” said Taylor . “Just to open the door Jan. 1, there are a number of increases, from utilities to wage increases to inflationary increases.”

 

The impact on the average homestead property would decrease slightly if their taxable value remained constant. But since the average residential property valuation increased approximately 6.7% (from $205,300 to $219,100), the impact would be approximately $4.35 per month on the average residential homesteaded property in Sherburne County.

 

The board also approved the Regional Rail Authority levy at $1,409,995, down 3.4% from 2017.

 

The overall budget increased two percent, from $83,136,404 to 85,027,641.