Minneapolis residents may face significant changes due to proposed budget cuts. The mayor's plan includes over 100 job cuts and millions in reductions. A notable aspect of the proposal is a substantial property tax increase.

This increase would be the largest in at least 26 years. For homeowners, this could mean a considerable rise in annual payments. Specifically, owners of homes valued at $351,400 would see an increase of $409 per year.

Further details on the proposal are available from the Star Tribune.