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23 fiscal year. Once the preliminary levy is adopted, it can be lowered, but not increased. The final EDA 24 levy is scheduled to be adopted on December 2, 2024. 25 26 2025 Recommended Tax Levy & Budget 27 The City Council received the 2025 City Manager Recommended Tax Levy and Budget on August 19, 28 2024. Attachment 4 contains the City Manager’s Budget Message and PowerPoint from that 29 meeting. Attachment 5 is the consolidated Preliminary 2025 Budget with reconciliations. 30 31 The 2025 Recommended Tax Levy is $30,273,603, an increase of $1,488,323 or 5.17%. The impact on 32 residents will vary depending on the property’s value and change in value relative to other properties in 33 the city. For comparison purposes, staff provides what the impact of this levy will be on the median 34 valued home in Roseville. According to Ramsey County, the median value of a Roseville single-family 35 home rose 3.03% from 2024 ($349,900) to 2025 ($360,500). 36 37 For 2025, the median-valued home of $360,500 can expect to pay approximately $116.18 per month, 38 which is an increase of $9.39 or 8.7%, per month from 2024 taxes, based on latest market value data 39 from Ramsey County. The State made some changes to tax classifications and Homestead Market 40 Value Exclusions which impact the city’s tax base. See Attachment 7 for more information. 41 42 As a function of legislative changes, local tax capacity has shifted slightly between residential property 43 and all other properties as demonstrated below: 44 45 46 47 The annual increase in property taxes is a function of property value increases and legislative changes 48($39) and the city budgeted tax levy increase ($74). 49 50 This is independent of the impacts that will result from a lower EDA Levy. The combined effect of the 51 City and EDA levy (as recommended) is depicted in the table below. 52 Page 2 of 4 Qbhf!48!pg!345