The New Hope City Council is set to review and adopt the final 2026 budget and property tax levy during its meeting on Monday, Dec. 8.

Following months of work sessions and strategic planning, the City is proposing a 2026 tax levy of $22.5 million, representing a 4.93% increase over the 2025 levy. This increase allows the City to maintain high-quality services, fund essential infrastructure improvements and manage inflationary pressures affecting City operations.

KEY BUDGET HIGHLIGHTS

• General Fund: The proposed General Fund expenditure budget is $20.4 million, an increase of 4.13% from 2025. This fund supports core City services including police, fire, public works and parks.
• Infrastructure Investment: The budget reflects the City’s continued commitment to infrastructure, with street improvement levies increasing by 7% and continued funding for park improvements.
• Safety & Services: The levy includes adjustments for economic development, fire capital and City facilities to ensure long-term community safety and vitality.

ESTIMATED TAX IMPACT
For the median value home in New Hope, valued at approximately $335,400 for 2026, the estimated city property tax will be $2,302.

This represents an annual increase of approximately $186 (or roughly $15.50 per month) compared to 2025.

The median home value in New Hope increased by 2.41% over the last year.
The total estimated tax capacity rate is projected to increase from 135.1% to 139.1%.

JOIN THE CONVERSATION
Residents are encouraged to participate in the budget process. The Truth in Taxation public hearing will take place on Monday, Dec. 8 at 6:30 p.m. at New Hope City Hall.

Complete preliminary budget documents are available online at newhopemn.gov/budget.