HF 2339

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

A bill for an act
relating to property taxation; providing that market
value credit reductions be reflected in the credit
amount shown on each property tax statement; amending
Minnesota Statutes 2004, section 273.1384, by adding a
subdivision.

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

Section 1.

Minnesota Statutes 2004, section 273.1384, is
amended by adding a subdivision to read:

new text begin Subd. 3a. new text end

new text begin Credit reimbursement reductions. new text end

new text begin If
legislation has been enacted providing that credit
reimbursements under this section shall not be paid in full for
some taxing jurisdictions, in any year, the county auditor must
take the reduced reimbursements into account in determining the
credit to each taxpayer, after first performing the calculations
provided in subdivisions 1, 2, and 3. For each affected
jurisdiction, the county auditor must determine the percentage
that the credit reduction is relative to the total reimbursement
that the jurisdiction would be entitled to under subdivisions 1,
2, and 3. The auditor must then reduce the credit applied to
the relevant jurisdiction's tax by the percentage determined
under this subdivision for each qualifying property owner in the
jurisdiction.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxes
payable in 2006 and thereafter.
new text end