Bill Summary: SF2556

• Repeals the homestead market value exclusion under Minnesota Statutes section 273.13, subdivision 35, effective for taxes payable in 2013 and thereafter.

• Removes references to the homestead market value exclusion from the definitions of "referendum market value" in section 126C.01, subdivision 3.

• Removes the homestead market value exclusion prohibition from section 273.13, subdivision 34, which governs disabled veteran and family caregiver homestead exclusions.

• Eliminates the requirement to separately state the homestead market value exclusion amount on property tax statements under section 276.04, subdivision 2.

• Removes the homestead market value exclusion from calculations of city net tax capacity under section 477A.011, subdivision 20.