1.1 	A bill for an act
1.2 	relating to taxation; property; changing the classification procedure for property 
1.3 	that is part homestead and part commercial-industrial;amending Minnesota 
1.4 	Statutes 2012, section 273.124, subdivision 11.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2012, section 273.124, subdivision 11, is amended to read:
1.7 		Subd. 11.Property classified as homestead and nonhomestead~~; reduction~~.
 1.8 	(a) If a property is classified under section 273.13 as partially homestead and partially 
1.9 	commercial-industrial, the value attributable to the portion of the property used as a 
1.10 	homestead shall be assessed as a homestead under section 273.13, subdivision 22 or 23. In 
1.11 	no case may the assessment under this paragraph be less than $76,000.
1.12 	(b) If the assessor has classified a property as both homestead and nonhomestead, 
1.13 	the reductions in tax provided under sections 273.135 and 273.1391 apply to the value of 
1.14 	both the homestead and the nonhomestead portions of the property.

1.15 	EFFECTIVE DATE. This section is effective beginning with taxes payable in 2015.