Board of Estimate & Taxation
The Board of Estimate & Taxation (BET), defined by City Charter, Article V, holds public hearings to obtain citizen input relating to setting the maximum tax levies for certain tax funds in the City. The board reviews selected City department budgets and after receiving recommendations from the Mayor and City Council, sets the maximum tax levies for the following funds:
- City Council:
- General Fund
- Permanent Improvement Fund
- Police Personnel Expansion Fund
- Bond Redemption Fund
- Minneapolis Employees Retirement Fund
- Minneapolis Retirement Association Levy
- Minneapolis Fire Relief Association Levy
- Municipal Building Commission Levy
- Library Referendum Debt Service Market Value Levy
- Chapter 595 Levy
- Minneapolis Public Housing Authority Levy
- Park and Recreation Board:
- Park and Recreation Fund
- Tree Preservation and Reforestation Fund
- Park Rehabilitation and Parkway Maintenance Fund
- Shade Tree Disease Control Fund
- Lake Pollution Control Fund
Board of Estimate & Taxation:
- Board of Estimate & Taxation Levy
- Teacher's Retirement Association Levy
Board details
Related documents
- Biennial Budgeting in Minneapolis (October 10, 2018)
- Minneapolis Park & Recreation Board of Estimate & Taxation presentation (September 12, 2018)
- Minneapolis Park & Recreation Capital Plan 2017-2022
Note: The Fire Department Relief Association, Police Relief Association, Municipal Employees Retirement Fund, and Building Commission Funds are not subject to the Board's maximum tax levies.
Other responsibilities
- The BET participates in the overall debt management policy of the City and issues General Obligation Bonds of the City in support of the Capital Program (excluding Tax Increment Bonds).
- BET staff is responsible for preparation of the Official Statement except Appendix A. They assist in preparation of responses to rating agency inquiries. They prepare self-supporting debt documentations and are involved in pre- and post-bond-sale activities.
- BET is responsible in determining if a project is related to the Convention Center and therefore eligible for the use of sales taxes.
Last updated Oct 29, 2019
