City Board Confirms Mayor’s Proposal for No Tax Increase
As Mayor Rybak recommended, Board of Estimate and Taxation sets no increase to City’s 2012 property-tax levy
September 13, 2011 (MINNEAPOLIS) The Minneapolis Board of Estimate and Taxation today confirmed Mayor Rybak’s proposal for no property-tax increase in 2012.
"We know that Minneapolis taxpayers want to stay in their homes. Today, five members of the Board took a stand that will make it easier for them to do so," said Mayor Rybak.
City Council President Barbara Johnson, Council Member Betsy Hodges, Minneapolis Park and Recreation Board Commissioner Bob Fine and Board of Estimate and Taxation at-large member David Wheeler supported the Mayor’s proposal not to increase the property-tax levy.
"Residents of every Minneapolis neighborhood are stretched, and holding the levy flat directly responds to their concerns," said Council President Johnson.
"Last year, our residents told us loud and clear that their property taxes are too high, and we heard them," said Council Member Hodges, the chair of the Council’s Ways and Means/Budget Committee. "But I want to make sure that they understand that the regressive budget that the State Legislature passed this year — especially the elimination of the Market Value Homestead Credit — will have a negative impact on many residents’ property taxes, despite our action today to hold the line."
In the last 10 years, Minneapolis has exercised fiscal responsibility: the City balances its budgets over five years without recourse to gimmicks or shifts, spends 8 percent less than 10 years ago, has brought down the number of full-time positions by 10 percent, has paid down $183 million in debt and has restored its AAA credit ratings. It has achieved this record despite the inability of the State of Minnesota, which has cut Local Government Aid a cumulative $405 million since 2003, to balance its budget sustainably.
Published Sep. 13, 2011