Eric Bernstein is one of three candidates running for two elected positions on Minneapolis’s Board of Estimate & Taxation (BET). We were both confused about how ranked-choice voting works in this situation. We think the candidate with the fewest first-choice rankings will be dropped, and the remaining two will win, but more research is needed.
Bernstein describes himself as a longtime tax and fiscal policy professional motivated by the value of collective public investments—parks, streets, and core infrastructure—and by the belief that Minneapolis underutilizes the BET as a venue for honest conversations about what residents get for their tax dollars.
Bernstein explains how the property-tax levy works and why it confuses people. Unlike sales or income taxes with fixed rates, the city sets a total levy—roughly $700 million—and spreads it across all taxable property according to each parcel’s share of total value. Thus, a 7.8% levy increase does not translate into a uniform 7.8% bill hike; shifts in relative values (e.g., rising high-value residential areas vs. falling downtown commercial values) change who pays more or less. He notes this method stabilizes city revenue for essentials like infrastructure, parks, and public safety, even if it feels unpredictable to homeowners.
Outlining the BET’s role, Bernstein says the board approves the maximum property-tax levy the mayor and council can set. Historically created to coordinate the city, park board, and formerly the library levies, the BET today includes the mayor, two council members, one park commissioner, and two at-large elected residents. While it doesn’t decide spending line items, the BET influences priorities by setting the ceiling (e.g., space for a proposed youth levy the board declined in 2018).
Asked what he’d push for, Bernstein emphasizes better long-term fiscal planning: moving beyond cash-flow thinking toward accrual concepts that account for assets, depreciation, and liabilities; scrutinizing “base budgets” rather than only annual changes; and reassessing heavy reliance on outside contractors. He cites examples like bringing road design in-house to save money and notes Minneapolis spends nearly 50% more on contracted services than on public employees. With falling commercial values and demographic shifts (fewer young people, more retirees) ahead—and possible federal cuts affecting programs like Medicaid and SNAP—he argues the city must stretch dollars further and invest in durable capacity.
Two other key positions stand out. He opposes a Minneapolis wealth tax on high earners, arguing that any such tax should apply countywide—or even across multiple counties—since it’s too easy for high earners to move out of the city. He’s also against using public funds to build or finance new sports stadiums, such as for the Timberwolves, if the team decides to leave the Target Center.
On the trail, Bernstein says most voters haven’t heard of the BET but are eager to understand why property taxes behave in the way they do. He portrays himself as a collaborator—speaking with current members Samatha Pree-Stinson and Steve Brandt, former candidate Bob Fine, council members, and even Mayor Frey—focused on “value for money” rather than ideology. He’ll keep his day job running a union-and-grassroots policy coalition (with some lobbying and public education) and closes with a broader critique: Minneapolis, like many governments, overuses subsidies for private development without clear public returns; he favors partnerships that deliver measurable long-term benefits for residents.
Unfortunately, our interview was cut short due to a technical malfunction. If you’d like to learn more about Eric, you can visit his website:
