MN SF4055

Amends Minnesota Statutes to modify property tax statements for properties subject to the Iron Range areawide tax under section 276A.06, subdivision 7.

Requires net tax capacity portion of taxes for each jurisdiction to be calculated based on the property's total net tax capacity multiplied by the jurisdiction's actual or proposed net tax capacity tax rate.

Mandates property tax statements include a line item showing the "fiscal disparities adjustment" calculated as total gross tax payable minus the sum of individual taxing jurisdiction tax amounts, which may be a negative number.

Prohibits display of percentage change when the fiscal disparities adjustment for either current year taxes or proposed tax amounts is a negative number.

Effective beginning with property tax statements for taxes payable in 2019 (for tax statements) and taxes payable in 2020 (for proposed notices).