January-April

City staff prepare information that helps the Mayor develop a budget.

This includes:

• A base budget that continues the commitments in the prior year budget.
• An analysis of each department's accomplishments over the past year. 
• A year-end budget status report — the final, audited Annual Comprehensive Financial Report is not available until the second quarter.
• A capital improvement proposal for the coming year.

See how Capital Long-Range Improvements Committee (CLIC) gets involved

September

The Board of Estimate and Taxation (BET) sets the property tax levy.

 Learn about the Board of Estimate and Taxation (BET)

September-early December

City Council

• Reviews the Mayor's recommended budget
• Holds public hearings to get resident input
• Listens to department leaders on how the budget will affect their work 
• Makes changes to the recommended budget

By late November 

Residents receive Hennepin County estimated tax statements for the following year.

• The statement gives an estimate of your city, county and school district taxes.
• It also gives you the the date of the Truth in Taxation hearing for the city portion of your property taxes. 

By mid-December

City Council does their part.

This includes:

• Finalizes its amendments to the Mayor's recommended budget
• Adopts the final budget
• Submits the budget to the Mayor for approval