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273.032 Market value definition.

For the purpose of determining any property tax levy limitation based on market value, any net debt limit based on market value, any limit on the issuance of bonds, certificates of indebtedness, or capital notes based on market value, any qualification to receive state aid based on market value, or any state aid amount based on market value, the terms "market value," "taxable market value," and "market valuation," whether equalized or unequalized, mean the total taxable market value of property within the local unit of government before any adjustments for tax increment, fiscal disparity, powerline credit, or wind energy values, but after the limited market adjustments under section 273.11, subdivision 1a, and after the market value exclusions of certain improvements to homestead property under section 273.11, subdivision 16. Unless otherwise provided, "market value," "taxable market value," and "market valuation" refer to the taxable market value for the previous assessment year.

HIST: 1994 c 416 art 1 s 12; 1997 c 31 art 3 s 3

Official Publication of the State of Minnesota
Revisor of Statutes