Budget

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.

Financial transparency portal

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.

City priorities

• Economic development
• Affordable housing
• Infrastructure
• Diversity, equity and inclusion
• Operational effectiveness
• Climate change impacts

Bond rating

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.

Property taxes

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.

Tax levy

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.