Facing increasing dependence on property taxes to cover the costs of city services, Minneapolis is exploring other ways to raise money.
The Minneapolis Board of Estimate and Taxation was briefed on a preliminary study by city staff Wednesday afternoon, which took into account possible new revenue sources including an income tax on wealthy residents and a voluntary fee for tax-exempt organizations like hospitals and schools.
Andrew Hawkins, director of legislative research and oversight for the City Clerk’s Office, said Minneapolis’ dependence on property taxes is mirrored by cities across the country as they face uncertain cuts to federal funding from President Donald Trump’s administration…