City government · Dakota County, MN

Lakeville's money: where it comes from and where it goes

In the latest recorded fiscal year (ended December 31, 2023), Lakeville took in $135 million and spent $157 million.

Latest recorded year: ended December 31, 2023Comes fromGoes to

See every government that serves your ZIP

Where it comes from

Fees for services (liquor stores, water)44%City taxes32%Fines and other11%County and local tax money6.1%State tax money5.9%Federal tax money0.1%

What stands out

6.1%

of Lakeville's money comes from county and other local tax money.A typical U.S. city of 50,000+ people gets 0.9%.

City taxes32%

Property tax
29%$39.7 million
Other taxes
3.0%$4.1 million
What's in other taxesOther licenses; public utility taxes and 1 more
  • Other licenses$3.5 million
  • Public utility taxes$601 thousand
  • Severance taxes$12 thousand

Amounts are by Census tax category.

Fees for services44%

Fees for services
44%$60.0 million
What's in fees for servicesLiquor stores; water and 4 more
  • Liquor stores$24.0 million
  • Water$12.4 million
  • Other service charges$10.7 million
  • Sewer$8.6 million
  • Road charges$2.9 million
  • Parks and recreation$1.4 million

Amounts are by Census type of charge.

Federal tax money0.1%

Grants from Washington, paid for by the federal taxes residents also pay.

From the federal government
0.1%$165 thousand

State tax money5.9%

Money the state passes on, paid for by the state taxes residents also pay.

From the state
5.9%$7.9 million

County and local tax money6.1%

Money passed on by the county or other local governments.

From the county and other local governments
6.1%$8.2 million

Fines and other11%

Interest, rents and other
11%$14.8 million
Fines
0.2%$238 thousand

Where it goes

Water, sewer, trash and utilities39%Roads, transit and parking20%Parks, recreation and libraries18%Police, fire, courts and jails13%Running the government and other costs6.9%Interest on debt3.3%

What stands out

18%

of Lakeville's spending goes to parks, recreation and libraries.A typical U.S. city of 50,000+ people spends 6.4%.

Spending by category100%

Water, sewer, trash and utilities
39%$60.7 million
What's in water, sewer, trash and utilitiesWater supply; liquor stores and 1 more
  • Water supply$25.3 million
  • Liquor stores$21.7 million
  • Sewer systems$13.7 million
Roads, transit and parking
20%$30.6 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$30.6 million
Parks, recreation and libraries
18%$28.7 million
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$28.7 million
Police, fire, courts and jails
13%$20.6 million
What's in police, fire, courts and jailsPolice and fire protection
  • Police$17.6 million
  • Fire protection$3.0 million
Running the government and other costs
6.9%$10.9 million
What's in running the government and other costsOther and not broken out; finance, tax collection and budgeting and 1 more
  • Other and not broken out$8.8 million
  • Finance, tax collection and budgeting$1.9 million
  • Central staff services (personnel, purchasing, technology)$125 thousand
Interest on debt
3.3%$5.2 million
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$5.1 million
  • Interest on water supply debt$129 thousand
Sources and moreWhere these numbers come from and what they cover

City of Lakeville. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended December 31, 2023.

What this covers. The money of City of Lakeville itself. Other governments that serve the same area (the city, county, school district and state) are separate and not included. Borrowing, transfers between a government's own funds, and pension trust funds are not counted as revenue.