HF 2129

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:59am

A bill for an act
relating to taxation; property; reducing the state general levy for historic
commercial buildings; amending Minnesota Statutes 2008, section 273.13, by
adding a subdivision.

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

Section 1.

Minnesota Statutes 2008, section 273.13, is amended by adding a
subdivision to read:

new text begin Subd. 24b. new text end

new text begin Preservation of historic commercial buildings. new text end

new text begin (a) Commercial
property classified as class 3a or class 3b under subdivision 24 qualifies for tax treatment
under this subdivision, provided that:
new text end

new text begin (1) the property is located in a city outside the metropolitan area, as defined under
section 473.121, subdivision 2;
new text end

new text begin (2) the property is located in a city that has a population of less than 50,000, as
defined under section 477A.011, subdivision 3;
new text end

new text begin (3) the property contains a structure originally constructed over 50 years ago; and
new text end

new text begin (4) the property is located within a city where the city council has defined a
"downtown area." A downtown area must consist of contiguous parcels of property with
at least 50 percent of the parcels containing structures that were originally constructed
before 1950.
new text end

new text begin (b) For properties qualifying under this subdivision, the first tier of market value, as
defined under subdivision 24, paragraph (a), clause (1), shall be exempt from the state
general levy under section 275.025, and the remaining market value shall be assigned a
class rate of one percent in computing the state general levy.
new text end

new text begin (c) The city council of each participating city must file a map of its downtown area
with the county assessor by July 1 of the first assessment year that the city intends to
participate. If the boundaries of the downtown area are subsequently changed, a revised
map must be filed with the county assessor by July 1 in order for the new boundaries to be
in effect for taxes payable in the following year.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxes payable in 2010 and
thereafter. Notwithstanding the date specified in paragraph (c), if a city intends to
participate for taxes payable in 2010, the council has until September 1, 2009, to notify
and file a map with the county assessor.
new text end