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Minneapolis property owners to get a break on taxes

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The Minneapolis City Council approved a measure Friday morning to provide some relief for property taxpayers next year. 

The city will set up a property tax relief account which will be funded by one-time money. The account will start with $2.8 million from a road repaving program. 

The council's ways and means budget committee chair Betsy Hodges introduced the resolution creating the account. Hodges says the account is a short-term solution, but it would reduce the levy increase by 1 percent in 2012. 

However, Hodges says the account may be tapped if the Legislature cuts aid to the city.