City’s 2014 budget cuts property taxes, invests in future

The Minneapolis City Council unanimously passed a 2014 City budget that, among other things, provides a 1 percent cut to the property-tax levy. It’s the first such decrease in the levy in 30 years. It’s also the third City budget in a row in which nearly 70 percent of residential taxpayers will see a decrease, or no increase, in their property taxes. In 2014, 67 percent of Minneapolis taxpayers will see a decrease in their property taxes.

The 2014 budget also makes important future investments in:

The ability to cut property taxes in 2014, while making investments in the future, is possible for three reasons:

These recent developments come on the heels of tough choices that City leaders have made over the past decade to restore the City’s fiscal health:

Had leaders not made those tough choices, property taxes would be 35 percent higher than they are.

 

Published Dec 24, 2013

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