The Future of Property Tax in Minneapolis
Posted by Joe M. Grunnet on
A two-billion-dollar budget proposal for the future of Minneapolis. A seven percent increase in spending. Mayor Frey, who was reelected this November, is recommending a new budget anticipated to be carried out by August 15th , 2026. The City Council has adopted the budget and will include a proposed property tax levy that will increase the price of Minneapolis homes, which Frey describes as “not a crisis budget,” but a “discipline budget.”
The mayor’s proposal for spending will be solidified on December 11th, when the Minneapolis City Council is scheduled to vote. If approved, Minneapolis will increase its budget by $140 million in the coming of year. However, among federal funding shifts, Minneapolis is still expecting fiscal uncertainty.
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