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Minnesota Legislature

Office of the Revisor of Statutes

273.032 MARKET VALUE DEFINITION.
For the purpose of determining any property tax levy limitation 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" for purposes of this paragraph, refer to the taxable market value for the
previous assessment year.
For the purpose of determining any net debt limit based on market value, or any limit on
the issuance of bonds, certificates of indebtedness, or capital notes 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" for purposes of this paragraph, mean the taxable market value as last finally equalized.
History: 1994 c 416 art 1 s 12; 1997 c 31 art 3 s 3; 2006 c 259 art 9 s 5