HF 2964

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxation; requiring certain school 
  1.3             district referenda levies to be levied against 
  1.4             referendum market value; amending Minnesota Statutes 
  1.5             1995 Supplement, section 275.08, subdivision 1b; 
  1.6             proposing coding for new law in Minnesota Statutes, 
  1.7             chapter 124. 
  1.8   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.9      Section 1.  [124.975] [REFERENDUM LEVY; MARKET VALUE.] 
  1.10     Except as otherwise provided in sections 124A.03 and 
  1.11  124A.0311, a school district referendum levy approved after 
  1.12  November 1, 1996, for taxes payable in 1997 or thereafter, must 
  1.13  be levied against the referendum market value of all taxable 
  1.14  property as defined in section 124A.02, subdivision 3b.  A levy 
  1.15  subject to the requirements of this section must be separately 
  1.16  certified to the county auditor under section 275.07. 
  1.17     Sec. 2.  Minnesota Statutes 1995 Supplement, section 
  1.18  275.08, subdivision 1b, is amended to read: 
  1.19     Subd. 1b.  The amounts certified under section 275.07 by an 
  1.20  individual local government unit, except for any amounts 
  1.21  certified under sections 124.975, 124A.03, subdivision 2a, and 
  1.22  275.61, shall be divided by the total net tax capacity of all 
  1.23  taxable properties within the local government unit's taxing 
  1.24  jurisdiction.  The resulting ratio, the local government's local 
  1.25  tax rate, multiplied by each property's net tax capacity shall 
  1.26  be each property's tax for that local government unit before 
  2.1   reduction by any credits.  
  2.2      Any amount certified to the county auditor under section 
  2.3   124.975, 124A.03, subdivision 2a, or 275.61, after the dates 
  2.4   given in those sections, shall be divided by the total estimated 
  2.5   market value of all taxable properties within the taxing 
  2.6   district.  The resulting ratio, the taxing district's new 
  2.7   referendum tax rate, multiplied by each property's estimated 
  2.8   market value shall be each property's new referendum tax before 
  2.9   reduction by any credits. 
  2.10     Sec. 3.  [EFFECTIVE DATE.] 
  2.11     Sections 1 and 2 are effective the day after final 
  2.12  enactment.