HF 1012

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to taxation; property; providing for valuation of certain rural land
abutting certain public waters; amending Minnesota Statutes 2006, section
273.11, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2006, section 273.11, is amended by adding a
subdivision to read:

new text begin Subd. 24. new text end

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

new text begin Any parcel of real estate that is (i)
located within a township, (ii) classified under section 273.13, subdivision 23, paragraph
(a) or (b), clause (1), (2), or (3), and (iii) abuts public waters, as defined in this subdivision,
in whole or in part, shall be valued by the assessor on the same basis as rural 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 (1) 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, (2) 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 under
section 103G.005, subdivision 15, paragraph (a), clause (3), and watercourses under
section 103G.005, subdivision 15, paragraph (a), clauses (9) and (10).
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