MN HF3161

Extends the deadline for withdrawal from the Green Acres program from May 1, 2010 to August 16, 2010 for real property that ceased to qualify under the program after May 28, 2008.

Property owners who withdraw before the new deadline are exempt from additional taxes and interest or penalties on those additional taxes.

For property valued and assessed under the Green Acres program prior to May 29, 2008 that ceases to qualify, additional taxes equal the difference between taxes under normal assessment and Green Acres assessment must be paid, but only for the last three years of participation.

The amount under additional tax provisions cannot exceed what would have been paid if an arm's-length sale price had been used instead of market value.

The section becomes effective for withdrawals after April 30, 2010.