HF 4129

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to taxation; property; valuation of certain agricultural land abutting
public water; amending Minnesota Statutes 2004, section 273.11, by adding a
subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2004, section 273.11, is amended by adding a
subdivision to read:

new text begin Subd. 23. new text end

new text begin Agricultural land abutting public waters. new text end

new text begin Any parcel of real estate
that is (1) located within a township, (2) classified agricultural under section 273.13,
subdivision 23, paragraph (a) or (b), and (3) abuts public waters in whole or in part, shall
be valued by the assessor on the same basis as agricultural land of the same quality that
does not abut public waters until some action as provided in this subdivision is taken to
develop the land. An owner of property meeting the criteria of this subdivision must notify
the county assessor within 30 days of applying for a development permit from the county
or local zoning board. If development permits are not required, an owner of property
meeting the criteria of this subdivision must notify the assessor prior to the property being
platted. The assessor shall, in the subsequent assessment year and thereafter, determine
the estimated market value of the property as provided under subdivision 1, taking into
consideration its developed shoreline use. Additional taxes shall be imposed in an amount
equal to (i) the difference between the amount of taxes actually levied on the property in
the current year with the limitation in market value as provided under this subdivision
and the amount of taxes that would have been levied in the current year if the assessor's
estimated market value had not been limited, (ii) multiplied by three. The additional taxes
shall be extended against the property on the tax list for the current year, provided that no
interest or penalties shall be levied on the additional taxes if timely paid. For purposes
of this subdivision, "public waters" means a meandered lake as defined under section
103G.005, subdivision 15, paragraph (a), clause (3).
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for the 2007 assessment and
thereafter.
new text end