Minnesota Legislature
HF 632
as introduced - 94th Legislature (2025 - 2026) Posted on 02/13/2025 02:45pm
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 02/12/2025 |
Current Version - as introduced
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A bill for an act
relating to taxation; property; allowing valuation reductions on certain property
with conservation restrictions or easements; making technical corrections; amending
Minnesota Statutes 2024, section 273.117.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 273.117, is amended to read:
273.117 CONSERVATION PROPERTY TAX VALUATION.
new text begin (a) new text end The value of real property deleted text begin whichdeleted text end new text begin thatnew text end is subject to a conservation restriction or
easement deleted text begin shalldeleted text end new text begin mustnew text end not be reduced by the assessor if:
deleted text begin (a)deleted text end new text begin (1)new text end the restriction or easement is for a conservation purpose and is recorded on the
property; and
deleted text begin (b)deleted text end new text begin (2)new text end the property is being used in accordance with the terms of the conservation
restriction or easement.
new text begin (b) new text end This section does not apply tonew text begin :
new text end
(1) conservation restrictions or easements covering riparian buffers along lakes, rivers,
and streams that are used for water quantity or quality control;
(2) easements in a county that has adopted, by referendum, a program to protect farmland
and natural areas since 1999;
new text begin
(3) conservation restrictions or easements in metropolitan counties;
new text end
new text begin (4) conservation restrictions or easements in nonmetropolitan counties that have, by
resolution, authorized the assessor to consider the impact of conservation restrictions or
easements on the property's value; new text end or
deleted text begin (3)deleted text end new text begin (5)new text end conservation restrictions or easements entered into prior to May 23, 2013.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for assessment year 2026 and thereafter.
new text end