as introduced - 88th Legislature (2013 - 2014) Posted on 03/19/2014 12:14pm
A bill for an act
relating to taxation; property; changing the classification procedure for property
that is part homestead and part commercial-industrial; amending Minnesota
Statutes 2012, section 273.124, subdivision 11.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2012, section 273.124, subdivision 11, is amended to read:
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(a) If a property is classified under section 273.13 as partially homestead and partially
commercial-industrial, the value attributable to the portion of the property used as a
homestead shall be assessed as a homestead under section 273.13, subdivision 22 or 23. In
no case may the assessment under this paragraph be less than $76,000.
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new text begin (b)new text end If the assessor has classified a property as both homestead and nonhomestead,
the reductions in tax provided under sections 273.135 and 273.1391 apply to the value of
both the homestead and the nonhomestead portions of the property.
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This section is effective beginning with taxes payable in 2015.
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