Dive into the numbers
You can view, filter, and analyze revenue, expense, and balance sheet financial data from fiscal year 2016 to current year, including annual tax revenues, personnel costs, monthly operating expenses, and overtime costs. You can download and share the data, too.
Matching our tax dollars to our goals and values
The City Council and City staff worked over six months developing the budget for 2021. We continue to prioritize funding in our strategic plan, which will be reviewed this year.
- Economic development
- Affordable housing
- Diversity, equity and inclusion
- Operational effectiveness
- Climate change impacts
Just like a credit score for personal loans, a city bond rating provides lower interest rates when borrowing money for things like street reconstruction and remodeling of the fire station.
The City of Northfield is fortunate to have a “AA” bond rating from Standard and Poors based on factors such as our economy, debt load, financial performance, governance and management practices.
City taxes are about 34% of property taxes in Northfield. The remainder is made up of taxes from the county and school districts, 22% and 44% respectively.
The City Council annually approves a tax levy amount for the entire community that is needed to provide city services. This amount is then divided among all taxpayers in the community based on their property values. Property values are determined by the county and tax rates are set by the State of Minnesota.
Current levy rate
The Council approved of a 3.7% levy rate increase for 2021. Despite the total levy increasing, the City property tax rate is less than it was five years ago.
Low city taxes compared to similar cities
When compared to similar cities, Northfield has one of the lowest total property taxes to fund city services.
- Administrative services
- Business development
Culture & Recreation
- Parks, ice rink and pool
- FiftyNorth senior center
- Fire and Rescue
- Emergency management
- Building inspections
- Street repair and construction
- Snow plowing
- Drinking, storm and waste water
- Garbage, recycling and yard waste
- City buildings
Initial budget development
- June - Past year's independent financial audit complete and presented to Council
- July - Council budget meeting
- August - Council budget meeting
Council reviews budgets
- September - Council adopts preliminary budget, maximum tax levy and next year’s utility rates
Council prioritizes services and adjusts budget
- October - Council budget meeting
- November - Council budget meeting
- December - Presentation and public input; Council adopts final budget and levy