A look at the city of Minneapolis property tax history 2005 – 2024

Attachments

20251011-173445-9e8-CityofMinneapolisPropertyTaxHistory.pdf

The charts above provide information on property tax percentage increases over the last 20 years. The charts show separately the City of Minneapolis (City) General Fund, Minneapolis Park & Recreation Board (MPRB), and the Total City property tax increase percentages. The Total City property tax includes City General Fund, Municipal Building Commission, Permanent Improvement, Bond Redemption, and Police, Fire, and Minneapolis Employees Pensions.

During the past 20 years, the cumulative property tax increase is 204 percent for the total city tax, 248 percent for the City General Fund, and 137 percent for the MPRB.

During the past 20 years, the average tax increase is 5.8 percent for the total city tax, 6.6 percent for the City General Fund, and 4.4 percent for the MPRB.

2005: Pension and Bond Redemption levies were reduced, and City General Fund increased.
2013: The City’s General Fund property taxes were decreased by 4.2 percent; however, the City’s General Fund revenue budget was increased by 3.3 percent.
2014: The City’s General Fund property taxes were decreased by 7 percent; however, the City’s General Fund revenue budget was increased by 25.9 percent.
2015: The City’s General Fund property taxes were decreased by 2.0 percent and the General Fund revenue budget was decreased by 1.1 percent; however, the General Fund expenditure budget increased by 3.5 percent and was $58.1 million below the revenue budget.
2017: Park Board General Fund received an increase of $3 million for park maintenance and repair when the 20-Year Neighborhood Park Program was implemented.
2021: Park Board General Fund received $800,000 property tax increase when The Commons Park ownership and operations were transferred to the Park Board and experienced a zero percent increase for other operations.
2022: Park Board General Fund received $1.3 million property tax increase and $1.3 million of ARPA funds for youth investment.

Learn more about the city's budget: https://www.minneapolismn.gov/government/budget/