HF 3051

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

  1.1                          A bill for an act
  1.2             relating to public finance; requiring nonschool 
  1.3             property tax increases to be levied against market 
  1.4             value; amending Minnesota Statutes 1994, section 
  1.5             275.61; Minnesota Statutes 1995 Supplement, section 
  1.6             275.08, subdivision 1b; proposing coding for new law 
  1.7             in Minnesota Statutes, chapter 275. 
  1.8   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.9      Section 1.  [275.071] [MARKET VALUE TAX.] 
  1.10     That portion of any county's, city's, town's, or special 
  1.11  taxing district's levy which exceeds the jurisdiction's levy for 
  1.12  taxes payable in 1996 shall be levied against the referendum 
  1.13  market value of the jurisdiction, as defined in section 124A.02, 
  1.14  subdivision 3b.  When the jurisdiction reports its levy to the 
  1.15  county auditor under section 275.07, it must separately identify 
  1.16  the portion to be levied against net tax capacity and the 
  1.17  portion to be levied against market value. 
  1.18     Sec. 2.  Minnesota Statutes 1995 Supplement, section 
  1.19  275.08, subdivision 1b, is amended to read: 
  1.20     Subd. 1b.  [COMPUTATION OF TAX RATES.] The amounts 
  1.21  certified to be levied against net tax capacity under section 
  1.22  275.07 by an individual local government unit, except for any 
  1.23  amounts certified under sections 124A.03, subdivision 2a, and 
  1.24  275.61, shall be divided by the total net tax capacity of all 
  1.25  taxable properties within the local government unit's taxing 
  1.26  jurisdiction.  The resulting ratio, the local government's local 
  2.1   tax rate, multiplied by each property's net tax capacity shall 
  2.2   be each property's net tax capacity tax for that local 
  2.3   government unit before reduction by any credits.  
  2.4      Any amount certified to the county auditor under section 
  2.5   124A.03, subdivision 2a, or 275.61, after the dates given in 
  2.6   those sections, to be levied against market value shall be 
  2.7   divided by the total estimated referendum market value of all 
  2.8   taxable properties within the taxing district.  The resulting 
  2.9   ratio, the taxing district's new referendum market value tax 
  2.10  rate, multiplied by each property's estimated referendum market 
  2.11  value shall be each property's new referendum market value tax 
  2.12  before reduction by any credits.  For the purposes of this 
  2.13  subdivision, "referendum market value" means the market value as 
  2.14  defined in section 124A.02, subdivision 3b. 
  2.15     Sec. 3.  Minnesota Statutes 1994, section 275.61, is 
  2.16  amended to read: 
  2.17     275.61 [REFERENDUM LEVY; MARKET VALUE.] 
  2.18     For local governmental subdivisions other than school 
  2.19  districts, any levy, including the issuance of debt obligations 
  2.20  payable in whole or in part from property taxes, required to be 
  2.21  approved and approved by the voters at a general or special 
  2.22  election for taxes payable in 1993 and thereafter, shall be 
  2.23  levied against the referendum market value of all taxable 
  2.24  property within the governmental subdivision, as defined in 
  2.25  section 124A.02, subdivision 3b.  Any levy amount subject to the 
  2.26  requirements of this section shall be certified separately to 
  2.27  the county auditor under section 275.07. 
  2.28     The ballot shall state the maximum amount of the increased 
  2.29  levy as a percentage of market value and the amount that will be 
  2.30  raised by the new referendum tax rate in the first year it is to 
  2.31  be levied. 
  2.32     Sec. 4.  [EFFECTIVE DATE.] 
  2.33     Sections 1 to 3 are effective for taxes payable in 1997, 
  2.34  and subsequent years.