8 takeaways from Mayor Jacob Freys budget plan that increases property tax levy by 7.8

Minneapolis Mayor Jacob Frey announced a $2 billion budget that would raise property taxes by 7. 8% for homeowners, emphasizing a strategy of recalibration rather than austerity. The budget addresses rising construction costs and declining revenues, with Frey stating that maintaining current spending levels would have required a 13% tax levy increase. To achieve this, he proposed cuts and reallocations, including moving funds from an emergency housing voucher program to the Stable Homes Stable Schools initiative. The City Council must pass a balanced budget before the end of the year, with both the mayor and all council seats facing re-election in November.

Council President Elliott Payne criticized Frey for not consulting with council members as extensively as in previous years. Despite concerns about cuts to community programs, Frey insists on investing in proven initiatives. The budget also eliminates 26 vacant positions and cancels the Community Connections Conference, aiming to save costs. Frey plans to invest an additional $3. 2 million into the park system as part of his budget proposal.