City staff are projecting around a $30 million budget deficit in 2027, according to a presentation given to the council in June. As the city projects a $30 million budget deficit for 2027, Minneapolis City Council Member Michael Rainville says without changes to city spending, property taxes could go up 13% next year. Minneapolis property taxesWhat we know:Council member Rainville says the city is grappling with inflation and the lingering impacts of Operation Metro Surge. There’s also a projected $30 million budget deficit projected for next year, something the city is required by law to fix before passing a final budget. The budget process is still underway, and the mayor is continuing to evaluate every department and engage with city council members before presenting his proposed 2027 budget."