HF 561

as introduced - 93rd Legislature (2023 - 2024) Posted on 01/19/2023 02:56pm

A bill for an act
relating to taxation; property; allowing certain property to be eligible for green
acres tax deferment; amending Minnesota Statutes 2022, section 273.111, by
adding a subdivision.

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

Section 1.

Minnesota Statutes 2022, section 273.111, is amended by adding a subdivision
to read:

new text begin Subd. 3b. new text end

new text begin Property no longer eligible for deferment. new text end

new text begin (a) Real estate receiving the tax
deferment under this section for assessment year 2012, but that did not qualify for the tax
deferment under this section for assessment years 2013 to 2023 due to eminent domain
action that reduced the real estate to less than ten acres, shall qualify for the tax deferment
under this section for assessment year 2024 and thereafter until:
new text end

new text begin (1) the land no longer qualifies for classification as class 2a under section 273.13;
new text end

new text begin (2) the land is voluntarily withdrawn from the program; or
new text end

new text begin (3) the land is sold, transferred, or subdivided.
new text end

new text begin (b) Property assessed under this subdivision is subject to additional taxes, as provided
in subdivision 9, when the property:
new text end

new text begin (1) is withdrawn from the program;
new text end

new text begin (2) no longer qualifies for classification as class 2a under section 273.13; or
new text end

new text begin (3) is sold, transferred, or subdivided.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for assessment year 2024 and thereafter.
new text end