Rybak says tax increase necessary to fund pensions
Mayor R.T. Rybak says the city has no choice but to increase taxes as pension obligations grow.
Rybak spoke Wednesday at a sparsely attended public hearing on a proposed 6.5 percent tax increase for Minneapolis property owners.
Judy McGibbon told the city Board of Estimate and Taxation that it shouldn't increase the burden on property owners like her.
"We have retirements too; I fund my own," McGibbon said. "If you raise our taxes 6.5 percent that comes out of my SIP and my IRA and our family's retirement too."
Board president Carol Becker responded that she didn't want to raise taxes on people who are already struggling. Becker said she herself expects to be laid off next week.
"I feel your pain, I feel it personally and we all have a lot of soul searching to do in the next few days on how to address this," Becker said.
The board is scheduled to make a decision on September 13.
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