Minneapolis : State Data and Comparisons : Data-Z

Minneapolis, MN

TIA Data

2023 Financial State of Minneapolis (Released 02/27/2024)

Use Create Your Own City Chart to see additional financial, demographic and economic data for this and other cities

Minneapolis owes more than it owns.

Minneapolis has a -$600 Taxpayer Burden.™

Minneapolis is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

Minneapolis only has $1.2 billion of assets available to pay bills totaling $1.3 billion.

Because Minneapolis doesn't have enough money to pay its bills, it has a -$93.9 million financial hole. To erase this shortfall, each Minneapolis taxpayer would have to send -$600 to the city.

Minneapolis's reported net position is inflated by $55.8 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.

The city's financial report was released 213 days after its fiscal year end, which is considered untimely according to the 180 day standard.