Minneapolis is considering a city income tax to address its lower per capita tax revenue compared to similar metropolitan areas. A recent report suggests diversifying the city's revenue base, which currently relies heavily on property taxes, which have declined recently. The Minneapolis Board of Estimate and Taxation will review the report, which proposes 12 revenue-generating strategies. The report also urges improved tax collection methods. The potential new tax aims to boost the city's financial standing and address discrepancies compared to other cities. Residents and businesses should prepare for possible changes in the city's tax structure. It is important to improve our tax collection methods rather than add new taxes.