MN HF705

Provides a reduced property tax classification rate of 1.0 percent for property owned or operated by a congressionally chartered veterans organization that qualifies under class 4c clause (3), effective for taxes payable in 2016 through 2025.

Class 4c clause (3) applies to real property up to three acres owned and used by a nonprofit community service oriented organization not used for residential purposes, meeting specific revenue-producing activity limits or charitable contribution requirements.

The 1.0 percent rate applies only to veterans organizations qualifying under this provision; all other class 4c properties retain their standard 1.5 percent classification rate (with certain exceptions for other property types).

Amends Minnesota Statutes 2014, section 273.13, subdivision 25, to add this veterans organization tax benefit as part of the existing property classification system.