MN SF2803

Modifies the classification procedure for properties that are partially homestead and partially commercial-industrial under Minnesota Statutes section 273.124, subdivision 11.

Requires the value of the homestead portion to be assessed as homestead under section 273.13, subdivisions 22 or 23, with a minimum assessment of $76,000.

Allows tax reductions under sections 273.135 and 273.1391 to apply to both the homestead and nonhomestead portions of classified properties.

Effective beginning with taxes payable in 2015.