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MN SF2599
Bill
Status
Introduced
3/12/2014
Primary Sponsor
Bernhard Eken
Click for details
AI Summary
- Reduces the disparity reduction credit class rate for class 4a and class 3a property from 1.9 percent to 1.5 percent of taxable market value.
- Credit applies to property in border cities with enterprise zones, or in cities with populations between 2,500 and 35,000 (per 1980 census) adjacent to out-of-state cities with populations between 5,000 and 75,000.
- County auditors must annually certify credit costs to the Department of Revenue, which reimburses local governments for foregone property taxes proportionally based on their total levies.
- Effective beginning with taxes payable in 2015.
Legislative Description
Disparity reduction credit property tax class rate reduction authorization
Last Action
Referred to Taxes
3/12/2014
Committee Referrals
Taxes3/12/2014
Full Bill Text
No bill text available