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GOVERNMENTAL FUNDS REVENUE
<br />The following table presents the City's governmental funds revenue by source for the last two fiscal
<br />years.
<br />Governmental Funds Revenue by Source
<br />2025
<br />2024
<br />Year -to -Year Change
<br />Percent
<br />Percent
<br />Dollar
<br />Percent
<br />Revenue
<br />of Total
<br />Revenue
<br />of Total
<br />Change
<br />Change
<br />Property taxes
<br />$ 712,587
<br />62.3 %
<br />$ 692,892
<br />71.3 %
<br />$ 19,695
<br />2.8 %
<br />Franchise and other taxes
<br />7,441
<br />0.6
<br />9,200
<br />0.9
<br />(1,759)
<br />(19.1) %
<br />Special assessments
<br />92,691
<br />8.1
<br />96,545
<br />9.9
<br />(3,854)
<br />(4.0) %
<br />Licenses and permits
<br />109,010
<br />9.5
<br />46,144
<br />4.8
<br />62,866
<br />136.2 %
<br />Intergovernmental
<br />20,864
<br />1.8
<br />30,647
<br />3.2
<br />(9,783)
<br />(31.9) %
<br />Charges for services
<br />50,058
<br />4.4
<br />31,756
<br />3.3
<br />18,302
<br />57.6%
<br />Other
<br />152,685
<br />13.3
<br />63,902
<br />6.6
<br />88,783
<br />139.9 %
<br />Total revenue
<br />$ 1,145,336
<br />100.0 %
<br />$ 971,086
<br />100.0 %
<br />$ 174,250
<br />17.9 %
<br />In total, the City's governmental revenue increased $174,250 for the year. Other revenues increased
<br />$88,783 from the prior year, primarily due to miscellaneous revenues increasing $47,319 due to Ramsey
<br />County paying for its share of the project costs in the current year. Also, investment earnings increased
<br />$35,208 due to market conditions. Licenses and permits increased $62,866 primarily due to building
<br />activity in the current year.
<br />PROPERTY TAXES
<br />Minnesota cities rely heavily on local property tax levies to support their governmental fund activities.
<br />In the 2025 fiscal year, ad valorem property taxes provided 62.7 percent of the City's total governmental
<br />funds revenue.
<br />The City's taxable market value increased 7.7 percent for taxes payable in 2024 and 4.4 percent for taxes
<br />payable in 2025. The following graph shows the City's changes in taxable market value over the past
<br />10 years:
<br />$180,000,000
<br />$160,000, 000
<br />$140,000,000
<br />$120,000,000
<br />$100,000,000
<br />$ 80, 000,000
<br />$60,000,000
<br />$40,000,000
<br />$20, 000,000
<br />Taxable Market Value
<br />2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
<br />M
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