What is the Minneapolis Board of Estimate and Taxation and whos running in the election?

Minneapolis voters will select candidates for two seats on the Board of Estimate and Taxation (BET), which oversees property tax limits and city debt management. Incumbent Steve Brandt, a former Star Tribune reporter, aims to strengthen the BET's influence by diversifying city revenues and exploring a progressive income tax. He argues that the current property tax system disproportionately affects lower-income residents. Challenger Bob Fine, with 16 years on the Park and Recreation Board, opposes the city income tax idea, fearing it may discourage affluent residents and suggests alternative revenue sources like increased local government aid. Eric Harris Bernstein, representing a labor coalition, seeks to advocate for broader fiscal reforms.

The BET's relevance has increased due to economic pressures and the need for smart fiscal decisions. Brandt's push for a more “muscular” BET reflects a desire for enhanced institutional memory and research capacity. The election outcome will shape the city's financial policy amid ongoing budgetary challenges.