HF 3778

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to property taxation; creating a temporary 
  1.3             property tax exemption for certain properties; 
  1.4             proposing coding for new law in Minnesota Statutes, 
  1.5             chapter 273. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [273.80] [DISTRESSED HOMESTEAD REINVESTMENT 
  1.8   EXEMPTION.] 
  1.9      Subdivision 1.  [DEFINITIONS.] For purposes of this 
  1.10  section, the following terms shall have the meanings given. 
  1.11     "Substantially condition deficient" means that repairs 
  1.12  estimated to cost at least $20,000 are necessary to bring a 
  1.13  house up to sound operating condition, according to prevailing 
  1.14  costs of home improvements for the area. 
  1.15     "Sound operating condition" means that a home meets minimal 
  1.16  health and safety standards for residential occupancy under 
  1.17  applicable housing or building codes. 
  1.18     "Trained residential rehabilitation consultant" means a 
  1.19  person who is certified by the city in which the property is 
  1.20  located as having been trained in residential housing 
  1.21  rehabilitation. 
  1.22     "Neighborhood" means a neighborhood as defined for the 
  1.23  purposes of the neighborhood revitalization program under 
  1.24  section 469.1831, if applicable, or else a planning district as 
  1.25  identified and mapped for city planning district purposes. 
  2.1      Subd. 2.  [ELIGIBILITY.] A homestead is eligible for 
  2.2   treatment under this section if it: 
  2.3      (1) is located in a city of the first class; 
  2.4      (2) is located in a neighborhood where the median value of 
  2.5   owner-occupied homes is less than the median value of 
  2.6   owner-occupied homes for the entire city, according to the most 
  2.7   recent assessment; 
  2.8      (3) has an estimated market value which is below the median 
  2.9   value of owner-occupied homes for the entire city, according to 
  2.10  the most recent assessment; and 
  2.11     (4) has been declared to be substantially condition 
  2.12  deficient, by a trained residential rehabilitation consultant. 
  2.13     Subd. 3.  [QUALIFICATION.] A home which meets the 
  2.14  eligibility requirements of subdivision 2 shall qualify for the 
  2.15  tax benefits provided under this section whenever a trained 
  2.16  residential rehabilitation consultant certifies that the home is 
  2.17  in sound operating condition. 
  2.18     Subd. 4.  [TAX BENEFITS.] A property containing a home 
  2.19  which qualifies under subdivision 3 shall be exempt from all 
  2.20  property taxes for taxes payable in the ten years immediately 
  2.21  following its certification under subdivision 3, provided that 
  2.22  the property continues to be owned by the same person who owned 
  2.23  it when the home was certified as substantially condition 
  2.24  deficient. 
  2.25     Subd. 5.  [ASSESSMENT; RECORD.] The assessor may require 
  2.26  whatever information is necessary to determine eligibility for 
  2.27  the tax benefit conferred by this section.  During the time that 
  2.28  the property is exempt, the assessor shall continue to value the 
  2.29  property and record its current value on the tax rolls. 
  2.30     Sec. 2.  [EFFECTIVE DATE.] 
  2.31     Section 1 is effective for taxes assessed in 1999, payable 
  2.32  in 2000, and subsequent years.