Understanding Long-Term Costs
Decisions being made today can affect Chanhassen’s finances for decades. Here is what public financial records show about county staffing costs, pension obligations, and the city’s long-term debt.
Staffing Stayed Nearly Flat. Costs Did Not.
County Employment
Total employees, full-time and part-time
Estimated Employment Costs (Annual)
Wages + employer pension + estimated payroll taxes, in millions
- PERA-covered wages
- Employer pension + est. payroll taxes
View the data
| Year | Employees | PERA-covered wages | Pension + payroll taxes | Total cost |
|---|---|---|---|---|
| 2019 | 749 | $49.5M | $7.7M | $57.2M |
| 2020 | 758 | $52.7M | $8.2M | $60.9M |
| 2021 | 745 | $54.9M | $8.5M | $63.4M |
| 2022 | 749 | $57.4M | $8.9M | $66.3M |
| 2023 | 745 | $60.6M | $10.1M | $70.7M |
| 2024 | 759 | $63.8M | $9.9M | $73.7M |
| 2025 | 780 | $66.6M | $10.4M | $77.0M |
Employees, 2019 to 2025
+31 (+4.1%)
Employees increased modestly, from 749 to 780.
Employment costs, 2019 to 2025
+34.6%
Estimated total employment costs increased from $57.2 million to $77.0 million.
- Staffing stayed nearly flat. Employees increased just 4.1% from 2019 to 2025.
- Employment costs grew much faster. Estimated annual costs increased about 34.6%, from $57.2 million to $77.0 million.
- Rising costs matter. Personnel costs are a significant part of the county budget.
The Long-Term Pension Picture
Pension obligation, assets and net liability: Carver County’s approximate proportionate share of PERA, in millions.
- Total pension obligation
- Pension assets
- Net pension liability
2023 assets calculated as obligation minus reported net liability.
View the data
| Year | Total obligation | Assets | Net liability |
|---|---|---|---|
| 2019 | $231.7M | $193.6M | $38.1M |
| 2020 | $239.4M | $196.3M | $43.1M |
| 2021 | $280.4M | $250.5M | $29.9M |
| 2022 | $312.5M | $234.2M | $78.3M |
| 2023 | $290.2M | $245.7M | $44.5M |
| 2024 | $302.1M | $271.4M | $30.7M |
| 2025 | $315.0M | $286.3M | $28.7M |
2025 pension obligation
$315 million
2025 pension assets
$286 million
2025 net pension liability
$28.7 million
- Pension obligations are rising. The county’s estimated share increased from $231.7 million in 2019 to $315.0 million in 2025.
- Assets also increased. Pension assets grew from $193.6 million to $286.3 million.
- Net liability remains. Despite strong asset growth, the county’s estimated share still carries a net pension liability of about $28.7 million.
Chanhassen’s Long-Term Financial Commitments
Major obligations as of 2025.
Existing bond principal outstanding
$67.56 million
As of December 31, 2025.
Principal + remaining interest
$99.81 million
On existing bonds, scheduled through 2054.
New Community Center project (2026)
$82.5 million
Using multiple funding sources, including local sales tax and a property-tax component.
Some financing extends to
~2054–2056
How Long Do These Commitments Last?
Timeline of major obligations, 2025 to 2056.
- 2026–2028
Chanhassen 2050 Comprehensive PlanDeveloped over these years
- 2030
Public Works bonds end2016A
- 2042
Utility bonds end (water/sewer)Lakes at Chanhassen TIF note also ends
- 2048
Community Center sales-tax bondsEstimated end
- 2054
Civic Campus bonds end2024A and 2025B
- ~2054–2056
Remaining Community Center financing endsEstimated, depending on final financing
Source: City of Chanhassen 2025 Audited Financial Statements, 2026 Budget, and current project information. Community Center financing amounts and timing are estimates subject to final financing.
Comprehensive Plan and Active TIF Districts
How key planning and development initiatives unfold over time, and how they overlap.
2050 Comprehensive Plan
Land use · Housing · Infrastructure · Parks & trails · Natural resources
- Dec. 2025Early planning and preliminary timeline.
- May 2026Consultant agreement approved.
- 2026Community engagement and planning.
- Oct. 6, 2026Current survey closes.
- 2027–2028Plan development and review.
- End of 2028Expected completion and submission to the Metropolitan Council.
TIF #11 — Frontier / Venue
Redevelopment
- 2018Redevelopment agreement approved.
- 2026First developer note repaid; Note B approved for eligible public improvements.
- Close dateDistrict close/decertification date not established by sources reviewed.
TIF #12 — Lake Place
Housing
- 2021TIF plan approved.
- 2023First tax increment.
- 2048Last estimated year of tax increment; district estimated to terminate after 2048, or earlier when the TIF plan is satisfied.
TIF #13 — Harlow & Bennett
Renovation & renewal
- 2024TIF plan approved.
- 2025Demolition of existing buildings.
- Dec. 2026Anticipated Harlow opening.
- Sep. 2027Anticipated Bennett opening.
- Close dateExact final decertification year not established by sources reviewed.
How TIF Works (During the District)
- Property owner pays full property taxes.The development pays property taxes on its full taxable value.
- New tax increment is captured and rebated for eligible costs.The increase in property taxes generated by the new value is used for the TIF obligations, such as developer reimbursements and/or city projects.
- When obligations are satisfied, the district closes.Reimbursements end when the negotiated amounts or time periods are reached, or when the TIF plan is otherwise satisfied.
- Higher tax base returns to the normal taxing system.The full property value is then available to support the regular property tax levies for the city, county, school district and other taxing jurisdictions.
Maximum reimbursement periods are not necessarily the same as legal TIF district life. Dates shown are verified milestones from city materials; uncertain endpoints are intentionally not estimated.
Property-Tax Levy for Debt Service
Adopted 2026 long-term plan, 2025–2035.
- Public Works
- Civic Campus
- Community Center
View the data
| Year | Public Works | Civic Campus | Community Center | Total |
|---|---|---|---|---|
| 2025 | $0.190M | $0.875M | $0.000M | $1.065M |
| 2026 | $0.369M | $1.430M | $0.000M | $1.799M |
| 2027 | $0.451M | $1.700M | $0.000M | $2.151M |
| 2028 | $0.497M | $1.700M | $0.400M | $2.597M |
| 2029 | $0.410M | $1.700M | $0.900M | $3.010M |
| 2030 | $0.000M | $2.160M | $1.500M | $3.660M |
| 2031 | $0.000M | $2.280M | $1.500M | $3.780M |
| 2032 | $0.000M | $2.280M | $1.500M | $3.780M |
| 2033 | $0.000M | $2.280M | $1.500M | $3.780M |
| 2034 | $0.000M | $2.280M | $1.500M | $3.780M |
| 2035 | $0.000M | $2.280M | $1.500M | $3.780M |
- More than triples by 2030. The annual levy rises from $1.065M in 2025 to a projected $3.660M in 2030, then $3.780M in 2031–2035.
- Civic Campus is the largest share. Its levy rises from $875,000 in 2025 to a projected $2.280M annually in 2031–2035. 2024A bonds: interest starts in 2025; principal starts in 2027. Additional 2025B bonds: interest starts in 2026.
- Community Center levy projection. The plan includes $400,000 in 2028, $900,000 in 2029 and $1.500M annually in 2030–2035.
- Public Works levy falls to zero. Its levy peaks at $497,000 in 2028 and falls to zero in 2030 in this plan.
- Included in city taxes. These levies are part of the city property-tax total—not an additional charge on top of it.
Source: City of Chanhassen, Adopted 2026 Budget Book, pp. 32–33 and 517–518. These are annual property-tax levies, not outstanding debt balances. Future amounts are projections from this plan; later financing changes may affect them, including Community Center amounts.
How Long the Major Property-Tax-Supported Obligations May Extend
- Long-term commitments. These obligations extend to at least 2054, with the Community Center potentially to 2056.
- Beyond current projections. The city’s 10-year levy projections end in 2035, but these debts continue well beyond that date.
- Paid by property taxpayers. Both are supported by property taxes, meaning local taxpayers will be paying for these obligations for many years.
- Important for future decisions. These long-term costs reduce financial flexibility and should be considered as the city plans for future priorities.
*Community Center endpoint is approximate because final lease-revenue financing terms remain subject to final financing. No annual homeowner dollar amount is extrapolated beyond 2035 because the City’s current long-term levy table stops at 2035.
What It Means for a $600,000 Home
Illustrative city-tax allocation for a $600,000 residential homestead: Civic Campus + Community Center, 2025–2035. Calculated from the adopted 2026 plan—not an official parcel tax forecast.
- Combined allocation
- Civic Campus
- Community Center
Civic Campus and the combined allocation overlap through 2027, before the Community Center begins.
View the data
| Year | Civic Campus | Community Center | Combined |
|---|---|---|---|
| 2025 | $81 | $0 | $81 |
| 2026 | $125 | $0 | $125 |
| 2027 | $147 | $0 | $147 |
| 2028 | $142 | $33 | $176 |
| 2029 | $138 | $73 | $210 |
| 2030 | $169 | $117 | $286 |
| 2031 | $172 | $113 | $285 |
| 2032 | $166 | $109 | $276 |
| 2033 | $161 | $106 | $266 |
| 2034 | $155 | $102 | $256 |
| 2035 | $149 | $98 | $246 |
Civic Campus included from 2025
About $81 in 2025, $125 in 2026 and $147 in 2027.
Community Center phases in
This plan allocates about $33 in 2028, $73 in 2029 and $117 in 2030.
Combined allocation in 2030
$286 / year
About $24 per month, under these assumptions.
A growing tax base matters
Holding home value at $600,000, the projected allocation falls to about $246 in 2035 as the city tax base grows.
Method: project levy × $6,250 home net tax capacity ÷ city adjusted net tax capacity for each year. Home value held at $600,000; standard residential homestead rates assumed. Rounding may affect sums. Source: Chanhassen Adopted 2026 Budget Book, pp. 32–33; Minnesota Department of Revenue residential class rates. Includes only these two projects within city taxes. Actual bills depend on valuation, classification, credits and future levies. Community Center financing may change these plan-based estimates.