HF 5062

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/20/2024 11:23am

A bill for an act
relating to taxation; property; establishing a property tax exemption for certain
property owned by an Indian Tribe; amending Minnesota Statutes 2022, section
272.02, by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2022, section 272.02, is amended by adding a subdivision
to read:

new text begin Subd. 106. new text end

new text begin Certain property owned by an Indian Tribe. new text end

new text begin (a) Property is exempt that:
new text end

new text begin (1) was classified as class 3a under section 273.13, subdivision 24, for taxes payable in
2024;
new text end

new text begin (2) is located in a city of the first class with a population greater than 400,000 as of the
2020 federal census; and
new text end

new text begin (3) was on January 1, 2023, and is for the current assessment, owned by a federally
recognized Indian Tribe, or its instrumentality, that is located within the state of Minnesota.
new text end

new text begin (b) Property that qualifies for the exemption under this subdivision is limited to no more
than two contiguous parcels and structures that do not exceed, in the aggregate, 40,000
square feet. Property used for single-family housing, market-rate apartments, agriculture,
or forestry does not qualify for this exemption.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective beginning with assessment year 2025.
new text end