Working to avoid losing out on millions, Minneapolis tax board to set levy limit

Minneapolis tax leaders face a deadline to set a property tax levy limit, or the city could lose out on tens of millions of dollars in tax collections next year.

The Board of Estimate and Taxation (BET) will meet Tuesday to try again after members were deadlocked on the city’s property tax levy limit. They have until Wednesday to act or next year’s levy will stay at this year’s amount, meaning no increase next year.