2007 Minnesota Statutes

273.1235 TAX RELIEF FOR DESTROYED PROPERTY; LOCAL OPTION DISASTER
CREDITS.
    Subdivision 1. Credit provided. The county board may grant a credit for taxes payable in
the year following the year in which the damage or destruction occurred for: (1) homestead
properties that do not qualify for a credit under section 273.1234; and (2) nonhomestead property
meeting the requirements under section 273.1233.
    Subd. 2. Credit calculation. In the case of a property located within a disaster or emergency
area, the credit is equal to the difference between (i) the net tax on the property computed using
the market value of the property established for the January 2 assessment in the year in which
the damage occurred, and (ii) the net tax computed using the reassessed value. In the case of
property not located in a disaster or emergency area, the credit under this section is equal to the
result obtained by multiplying the difference in the net tax on the property computed using the
market value of the property established for the January 2 assessment in the year in which the
damage occurred, and the net tax computed using the reassessed value, times a fraction, the
numerator of which is the number of months in the assessment year that the structure was not
usable and the denominator of which is 12. If a structure was usable for a fraction of a month,
that month is not included in the numerator.
    Subd. 3. Credit reimbursements. The county auditor shall certify the credits granted under
this section for property within a disaster or emergency area to the commissioner of revenue
for reimbursement to each taxing jurisdiction in which the damaged property is located. The
commissioner shall make the payments to the taxing jurisdictions containing the property, other
than school districts and the state, at the time distributions are made under section 473H.10,
subdivision 3 . Reimbursements to school districts shall be made as provided in section 273.1392.
No reimbursement is to be paid to the state treasury. No reimbursement is to be made for credits
to property not located in a disaster or emergency area.
    Subd. 4. Appropriation. There is annually appropriated from the general fund to the
commissioner of revenue an amount necessary to make the payments required by this section.
History: 1Sp2007 c 2 art 3 s 10