Minnesota Legislature
SF 980
as introduced - 89th Legislature (2015 - 2016) Posted on 02/20/2015 09:23am
Current Version - as introduced
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A bill for an act
relating to taxation; property; providing for county assessors to determine land
value for Green Acres; amending Minnesota Statutes 2014, sections 273.111,
subdivision 4; 273.114, subdivision 3.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2014, section 273.111, subdivision 4, is amended to read:
Subd. 4.
Determination of value.
(a) The value of any real estate described
in subdivision 3 shall upon timely application by the owner, in the manner provided
in subdivision 8, be determined solely with reference to its appropriate agricultural
classification and value notwithstanding sections 272.03, subdivision 8, and 273.11.
Furthermore, the assessor shall not consider any added values resulting from
nonagricultural factors. deleted text begin In order to account for the presence of nonagricultural influences
that may affect the value of agricultural land, the commissioner of revenue shall, in
consultation with the Department of Applied Economics at the University of Minnesota,
develop a fair and uniform method of determining the average value of agricultural
land for each county in the state consistent with this subdivision. The values must be
determined using appropriate sales data. When appropriate, the commissioner may
make reasonable adjustments to the values based on the most recent available county or
regional data for agricultural production, commodity prices, production expenses, rent,
and investment return. The commissioner shall annually assign the resulting countywide
average value to each county, and these values shall be used as the basis for determining
the agricultural value for all properties in the county qualifying for tax deferment under
this section.deleted text end The county assessordeleted text begin , in consultation with the Department of Revenue,deleted text end shall
determine the relative value of agricultural land for each assessment district deleted text begin in comparison
to the countywide average valuedeleted text end , considering and giving recognition to appropriate
agricultural market and soil data available.
(b) In the case of property qualifying for tax deferment only under subdivision 3a,
the assessor shall not consider the presence of commercial, industrial, residential, or
seasonal recreational land use influences in determining the value for ad valorem tax
purposes deleted text begin provided that in no case shall the value exceed the value prescribed by the
commissioner of revenue for class 2a tillable property in that countydeleted text end .
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective beginning for taxes payable in 2016.
new text end
Sec. 2.
Minnesota Statutes 2014, section 273.114, subdivision 3, is amended to read:
Subd. 3.
Determination of value.
Notwithstanding sections 272.03, subdivision
8, and 273.11, the value of any real estate that qualifies under subdivision 2 must, upon
timely application by the owner in the manner provided in subdivision 5, not exceed the
value deleted text begin prescribed by the commissioner of revenuedeleted text end for class 2a tillable property in that
county. The house and garage, if any, and the immediately surrounding one acre of land
and a minor, ancillary nonresidential structure, if any, shall be valued according to their
appropriate value. In determining the value for ad valorem tax purposes, the assessor shall
not consider the presence of commercial, industrial, residential, or seasonal recreational
land use influences that may affect the value of real estate subject to this section.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective beginning for taxes payable in 2016.
new text end