MN SF3015

Limits growth in assessed market value for agricultural properties through assessment year 2014, with percentages varying by year (15-20 percent of prior value or 33-50 percent of the difference between current and prior assessments).

Assessment year 2010 caps increases at the greater of 20 percent of the 2008 assessment value or 33 percent of the difference between 2010 and 2008 assessments.

Assessment years 2011-2013 limit increases to the greater of 15 percent of prior year value or 33 percent of the difference between current and prior assessments.

Assessment year 2014 limits increases to the greater of 15 percent of prior year value or 50 percent of the difference between current and prior assessments.

Establishes a one-time supplemental agricultural credit for taxes payable in 2011 for properties where taxes increased by at least 25 percent between 2009 and 2010, with the credit amount equal to the excess increase above 25 percent.