MN HF3017

Modifies the homestead ownership requirements for Class 1c property (seasonal recreational resort property abutting public water) to allow homestead classification whether title is held by the corporation/partnership/LLC that owns the resort or by individual shareholders/partners/members.

Changes the language from "even if" to "whether" to clarify that Class 1c property can qualify for homestead assessment regardless of who holds legal title to the homestead dwelling.

Maintains existing Class 1c requirements including: property must abut public water, be used for temporary and seasonal residential occupancy, not exceed 250 commercial days per year, contain at least three rental units, and provide recreational activities or services.

Preserves the homestead portion of Class 1c property as Class 1a and maintains the tiered tax rate structure for the remainder (Tier I: 0.50%, Tier II: 1.0%, Tier III: 1.25%).

Effective for taxes payable in 2013 and thereafter.