Minneapolis Property Taxes to Soar: 8.1% Increase in 2025 Budget
Frey’s Budget: Increased Funding for Affordable Housing, Police Reform, and Community Development
According to Audacy, Minneapolis residents are bracing for a significant increase in their property taxes, as Mayor Jacob Frey unveiled a 2025 budget that includes an 8.1% property tax hike. The revenue from the tax increase will go towards funding city operations, affordable housing, police reform initiatives, and employee pay raises. The budget also includes funding for fighting unsheltered homelessness and revitalizing Nicollet Mall into a pedestrian-only playground with unique attractions like ice rinks and zip lines.
Despite the significant increase in property taxes, Frey emphasized that the city’s budget staff has worked to minimize expenses and ensure that resources are used effectively. The mayor also highlighted the importance of investing in programs that work, particularly in areas such as affordable housing and community development. The budget also includes a 30% raise for public works employees and a 22% increase in wages for Minneapolis Police officers.
Minneapolis Property Taxes Soar: 8.1% Increase in 2025 Budget to Fund Affordable Housing, Police Reform, and Community Development (PHOTO :GOOGLE)
Minneapolis Budget Prioritizes Police Reform and Community Development in Wake of George Floyd Murder
The city’s budget is being changed because of agreements and rules that the police department needs to follow after the death of George Floyd. The city has to make specific changes to improve police work and fix big problems. To do this, the budget is focusing on helping the community, building affordable homes, and training police officers. The city also knows that residents will have to pay higher property taxes.
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