As year-end budget deadlines loom, some elected officials in Minneapolis and St. Paul are pushing to limit this year's property tax levy increases.

Why it matters: Across the Twin Cities, tax bills are giving many homeowners sticker shock.

• The adjustment to slowing development and a declining office market spells more pain for residential property owners.

The big picture: Many cities, counties and school districts are navigating these pressures. Anoka County recently hiked its levy by nearly 17%. Dakota County could raise its levy by as much as 9.9%, according to the Pioneer Press.

What they're saying: "We are the valve for all of the frustration that everyone is feeling: the national mood, the economy, inflation," St. Paul City Council President Mitra Jalali told Axios.

In Minneapolis, the city council voted Friday on a series of amendments that reduce a proposed levy increase from 8.3% — which would've been the city's largest in more than a decade — to roughly 6.9%.

State of play: The council achieved the decrease in part by voting 7-5 to deny cost-of-living raises to around 160 top employees in Frey's administration, reasoning that they were among the city's highest-paid employees.

• They also voted to delay several tech upgrades.

In St. Paul, many city council members have pushed back on Mayor Melvin Carter's proposal for a 7.9% levy hike, which he later reduced to 7.2%.

• Last month, the council countered with a 5.7% increase, proposing to close vacant positions and trim some departments' budgets.

The latest: Jalali and a spokesperson for Carter told Axios the two sides are making progress toward a deal.

Friction point: Critics have argued limiting levy increases would lead to only modest savings for homeowners in exchange for harsh cuts or limits to services.

• In St. Paul, Carter warned limiting the increase too much could close positions on the city's police force, cut hours at park rec centers and jeopardize a snow emergency pilot program.
• Minneapolis council members voted down a proposal from Frey to further reduce the levy. Council Vice President Aisha Chughtai said the move would've eliminated funding for projects council members wanted.

Between the lines: Local governments vote earlier in the year to set a "maximum" possible levy, but can — and often do — trim their budgets to avoid charging up to the levy limit.

Full story

Minnesotans needed to bring home $648,000 annually to rank in the top 1% of earners in 2021.

By the numbers: Adjusting those figures into 2024 dollars, that means you need to earn more than $739,000 today to break from the ranks of the "99%."

The big picture: The threshold for one-percenters varies by state. Nationally, it's $797,000 in today's dollars.

• Washington, D.C. ($1.22 million), Connecticut ($1.17 million), Massachusetts ($1.13 million) and California ($1.05 million) have the highest cutoffs.

The other side: West Virginians need to make about $426,000 to be in their state's 1%.

How it works

🚨 Authorities are still searching for the man suspected of fatally shooting UnitedHealthcare CEO Brian Thompson.

• Over the weekend, officials released new photos of the alleged gunman, who they believe boarded a bus out of New York City after the attack, and announced a $50,000 reward for information that leads to his arrest and conviction.

🏈 Vikings QB Sam Darnold set two career highs in yesterday's win over Kirk Cousins and the Atlanta Falcons, throwing for five touchdowns and 347 yards. (Star Tribune)

• The Vikes have now won six games in a row and host the Bears a week from today on Monday Night Football.

👠 ICYMI: The pair of ruby slippers from "The Wizard of Oz" stolen from Grand Rapids' Judy Garland Museum in 2005 sold at auction for $28 million on Saturday. (AP)

• The museum, which fundraised in hopes of becoming the pumps' permanent home, wasn't the winning bidder.

👀 A DFL lawmaker received more than $108,000 in a separation agreement with her former employee before House Democrats voted on party lines to use taxpayer funds to cover $10,000 in legal fees related to the dispute, documents obtained by KSTP show. (KSTP)

• Republican Speaker Designate Lisa Demuth told the station she'll ask the Rules Committee to revisit the decision.
• DFL Speaker Designate Melissa Hortman defended the move as "entirely appropriate," citing state law that protects legislators from "adverse employment actions resulting from their roles" in the Legislature.

🏟 The Gophers will play Virginia Tech in the Duke's Mayo Bowl in Charlotte, North Carolina, on Jan. 3. (FOX 9)

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Roller-skating, blading and jogging around the concourse of U.S. Bank Stadium is back.

• It's a Minneapolis winter tradition — though the $15 admission price is a bit of a markup from the Metrodome's Rollerdome days.

Skate by: The stadium is open almost every Tuesday and Thursday night through January from 5pm-9pm, with speed skating only after 8pm.

If you go: Bring your own wheels! On-site rentals aren't available. You'll also have to sign a waiver.

Check it out on our Instagram