MN HF1914

Phases out the state general levy on commercial-industrial property over 12 years (2013-2024) from a base of $673.552 million, reducing it by 8.33% annually until reaching $0 in 2025.

Excludes the first $150,000 in value of each commercial-industrial property from the state general levy calculation starting in 2013.

Freezes the seasonal residential recreational property state general levy base at $41.797 million for taxes payable in 2013, with annual adjustments for inflation thereafter.

Expands the definition of domestic corporations to include corporations incorporated in tax havens or meeting certain income/property-payroll-sales factor thresholds within the United States.

Increases maximum homeowner property tax refunds for most income levels (from $2,000-$2,460 to $2,400-$2,460) and reduces the rent-to-property-tax ratio from 17% to 15% for renters; creates a new renter refund category for non-senior, non-disabled households.

Provides a temporary supplemental property tax refund for taxes payable in 2012 equal to 90% of increases over 12% of 2011 property taxes, capped at $1,000.