MN HF3804

Amends Minnesota Statutes 2008, section 275.71, subdivision 4, to modify the adjusted levy limit base calculation for taxes levied in 2008 through 2010.

Changes the inflation adjustment factor from 3.9 percent to a range that cannot be less than zero or exceed 3.9 percent based on implicit price deflator percentage growth.

Adds two new factors to the adjusted levy limit base calculation: 50 percent of the percentage increase in the number of households, and 50 percent of the percentage increase in taxable market value from new class 3 property construction (excluding state-assessed utility and railroad property).

Effective for taxes levied in 2010 and thereafter.