The Board of Estimate and Taxation has agreed to Minneapolis Mayor Betsy Hodges’ 5.5 percent increase in the property tax levy for 2018.

The approval is the first needed to finalize the mayor’s overall 2018 city budget of $1.4 billion. It will be heard by the city’s Ways and Means/Budget Committee through Oct. 27, and the City Council will hold a public hearing on Nov. 29.

Hodges and all council members are in the midst of a re-election campaign, and the full council will not meet to adopt the budget until Dec. 6, after the election.

The levy is the total amount of property taxes the city collects each year. Property taxes account for about a fifth of the city’s budget. The 5.5 percent increase would net $17.3 million.

The mayor’s budget proposal includes almost $6 million for clean energy programs; $24 million in housing programs, including $6 million for affordable housing; $4 million to look at ways to improve community trust and public safety, and $1.2 million for work on voters’ rights.

The budget also would add 40 full-time city positions and more funding for nighttime traffic enforcement downtown. Those staffing increases include one additional police officer.