2003 Expenditures were UP by $75.5 million (Table 1)
2003 Revenues were DOWN by $65.6 million (Table 2)
2003 Tax capacity lower than 1994, despite
market values more than doubling (Table 6)
2003 Per capita general obligation debt more
than doubled (Table 9)
2003 Bank deposits DROPPED $36 BILLION (Table 15)
www.ci.minneapolis.mn.us/financial-reports/cafr2003/docs/Stats.pdf
As you review these numbers, keep in mind that Minneapolis has an adult
population of 285,000, and falling. According to the Strib, commercial
property values in Minneapolis have fallen between 20 and 60 per cent. Also
according to the Strib, MN commercial property taxes are still double those
of surrounding states, even higher in Minneapolis.
Rather than thinking of ways to spend more money, I think the Mayor and
Council could use your help in finding ways to CUT spending and attract new
taxpayers.
Assembled by Vicky Heller
North Oaks and Cedar-Riverside
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