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MN SF2387
Bill
Status
Introduced
3/12/2012
Primary Sponsor
Dave Brown
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AI Summary
- Eliminates the Department of Revenue's authority to set countywide average values for agricultural land in green acres tax deferment programs
- Removes requirement for the commissioner of revenue to consult with the University of Minnesota's Department of Applied Economics and develop uniform valuation methods based on sales data, commodity prices, and production expenses
- Transfers responsibility for agricultural value determinations to county assessors, who must ensure property values do not exceed class 2a tillable property values in their county
- Applies the same valuation changes to rural preserve properties, removing the commissioner's prescribed value standard and giving assessors discretion in determining values up to the class 2a tillable property threshold
- Effective for assessment year 2013 and thereafter, with taxes payable beginning in 2014
Legislative Description
Revenue department green acres and rural preserves property valuation role elimination
Last Action
Referred to Taxes
3/12/2012
Committee Referrals
Taxes3/12/2012
Full Bill Text
No bill text available