MN HF3037

Reduces the class rate for the disparity reduction credit from 1.9 percent to 1.5 percent of taxable market value for both class 4a and class 3a properties.

Applies to properties in border cities with enterprise zones, cities with population between 2,500 and 35,000 (based on 1980 census) that are adjacent to out-of-state cities with population between 5,000 and 75,000 (based on 1980 census).

County auditors must annually certify the credit costs to the Department of Revenue, which reimburses local governments for forgone property taxes proportional to their total levies.

Makes the reduction effective beginning with taxes payable in 2015.