Oh no! Not Again…
City of Lakes and Tax Hikes.
Full Disclosure: I own rental property in Minneapolis, and can not vote there because I am not a resident. Anyone interested in buying my Rental Property??
Story by Star & Tribune:
Chastened by last December’s noisy pushback from Minneapolis property taxpayers, Mayor R.T. Rybak responded Thursday with a 2 percent tax hike proposal for 2012 — the smallest he’s urged in his 10 budgets.
That proposal contrasts with a 6.7 percent levy hike that had been budgeted for 2012 in the city’s five-year budgeting cycle and the 7.5 percent the mayor sought last year for 2011 before a backlash from taxpayers and the council cut it to 4.7 percent.
Last December, homeowners stormed City Hall before the council adopted a 2011 budget to demand further cuts, saying they couldn’t weather property tax hikes during a prolonged recession. “Minneapolis residents have told us loud and clear that property taxes are too high and they want us to do everything we can to hold them down,” Rybak said.
But Rybak’s 2012 proposal is built on the gamble that the city’s retired police and firefighters will approve a pension merger that finance officials say will save the city $17.1 million in spending next year
- Case Shiller Home Value Index MN vs. MN Property Tax revenue (craigkamman.wordpress.com)