MN HF3555

Allows real estate that received tax deferment for the 2008 assessment year but lost eligibility in 2009 due to changed qualification requirements to continue qualifying until the land is sold, transferred, subdivided, or the 2013 assessment, whichever is earlier.

Permits property transferred to a son or daughter of the owner, or transferred from a family farm limited liability company to a son or daughter with an ownership interest, to continue qualifying for Green Acres treatment through the 2013 assessment.

Property removed from the Green Acres program and enrolled in the rural preserve property tax law program under section 273.114 is not subject to additional taxes under the Green Acres provisions.

When property is withdrawn from the program or becomes ineligible, it becomes subject to additional taxes as provided in subdivision 9, except for property meeting the specified transfer conditions or rural preserve enrollment.

The provisions are effective for taxes payable in 2011 and thereafter.