Minneapolis Board to Deliberate on Maximum Property Tax Levy Increase
The Minneapolis Board of Estimate & Taxation (BET) is preparing to set the maximum property tax increase for the upcoming budget. Both the Mayor and the Park Board are proposing levy increases, but the BET, particularly its elected members, are…
Minneapolis St. Paul, MN, August 20, 2026 —
The Minneapolis Board of Estimate & Taxation (BET) is currently reviewing proposals for property tax levy increases as it prepares to set the maximum allowable rate for the upcoming budget year. This critical decision will significantly impact the financial planning of the city and its residents.
Both the Mayor’s office and the Park Board have put forward requests for levy increases. However, the BET, composed of elected officials, is reportedly examining the financial implications and sustainability of these proposed hikes for Minneapolis taxpayers. The board’s role is to provide oversight and ensure fiscal responsibility in the budgeting process.
A public hearing has been scheduled for September 9th. This session is intended to allow for community members and stakeholders to voice their opinions and concerns regarding the proposed tax increases. The input gathered during this hearing will be a key factor as the BET deliberates on its final decision.
Following the BET’s determination of the maximum property tax levy, this figure will serve as a guideline for the Minneapolis City Council as they proceed with the finalization of the city’s budget. The process aims to balance the need for city services with the economic capacity of property owners.
Story summarized from the original created by Cory Knudsen on kstp.com, see more information here.
