Mpls. passes budget that includes cut in property taxes

MINNEAPOLIS - The Minneapolis City Council unanimously passed a 2014 city budget on Wednesday night.

The budget, which was first proposed by outgoing Mayor R.T. Rybak in August, features a one-percent cut to the property-tax levy, the first such decrease in 30 years.

That property-tax cut is 3.8 percent below the cost of maintaining city services at 2013 levels, even before making any new investments, officials said.

The 2014 budget will mark 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.


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