The Brief
- Minneapolis Mayor Jacob Frey is proposing an 11.3% property tax hike to close a more than $60 million budget gap.
- The average homeowner would pay more than $400 extra per year, or about $30 more per month.
- The city council has until the end of the year to finalize the budget.
MINNEAPOLIS (FOX 9) – The Minneapolis Board of Estimate and Taxation met Wednesday night to hear public reaction to Mayor Jacob Frey’s proposed budget, which includes a significant property tax increase to cover a growing financial shortfall.
The proposed hike
What we know:
Frey is proposing an 11.3% property tax hike to address a more than $60 million budget gap. The cost of city services is growing faster than revenues, which is driving the proposal, officials explained. For the average homeowner, that translates to more than $400 extra per year, or about $30 more per month.
Residents showed up to voice their concerns, and the feedback was mixed. Some said the increase would be too much to handle, while others used the meeting to call for more parks funding in the budget.…