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SF 2803

as introduced - 88th Legislature (2013 - 2014) Posted on 03/20/2014 09:38am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
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Current Version - as introduced

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1.15

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:

Section 1.

Minnesota Statutes 2012, section 273.124, subdivision 11, is amended to read:


Subd. 11.

Property classified as homestead and nonhomesteaddeleted text begin ; reductiondeleted text end .

new text begin (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.
 new text end

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.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective beginning with taxes payable in 2015.
 new text end