SF 561

Introduction - 94th Legislature (2025 - 2026)

Posted on 01/29/2025 10:08 a.m.

A bill for an act
relating to taxation; property; modifying contents of proposed property tax notice
and tax statements to remove fiscal disparities adjustment amounts; repealing
Minnesota Statutes 2024, sections 275.065, subdivision 3c; 276.04, subdivision
2a.

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

Section 1. new text begin REPEALER.
new text end

new text begin Minnesota Statutes 2024, sections 275.065, subdivision 3c; and 276.04, subdivision 2a, new text end new text begin
are repealed.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective beginning with property taxes payable
in 2026.
new text end

APPENDIX

Repealed Minnesota Statutes: 25-01751

275.065 PROPOSED PROPERTY TAXES; NOTICE.

Subd. 3c.

Notice of proposed taxes; property subject to chapter 276A.

In the case of property subject to the areawide tax under section 276A.06, subdivision 7, for both the current year taxes and the proposed tax amounts, the net tax capacity portion of the taxes shown for each taxing jurisdiction must be based on the property's total net tax capacity multiplied by the jurisdiction's actual or proposed net tax capacity tax rate. In addition to the tax amounts shown for each jurisdiction, the statement must include a line showing the "fiscal disparities adjustment" equal to the total gross tax payable minus the sum of the tax amounts shown for the individual taxing jurisdictions. The fiscal disparities adjustment may be a negative number. If the fiscal disparities adjustment for either the current year taxes or the proposed tax amount is a negative number, the percentage change must not be shown. In all other respects the statement must fulfill the requirements of subdivision 3.

276.04 NOTICE OF RATES; PROPERTY TAX STATEMENTS.

Subd. 2a.

Contents of tax statements; property subject to chapter 276A.

In the case of property subject to the areawide tax under section 276A.06, subdivision 7, for both the current year taxes and the previous year tax amounts, the net tax capacity portion of the tax shown for each taxing jurisdiction must be based on the property's total net tax capacity multiplied by the jurisdiction's net tax capacity tax rate. In addition to the tax amounts shown for each jurisdiction, the statement must include a line showing the "fiscal disparities adjustment" equal to the total gross tax payable minus the sum of the tax amounts shown for the individual taxing jurisdictions for each year. The fiscal disparities adjustment may be a negative number. In all other respects the statement must fulfill the requirements of subdivision 2.