MN SF3931

Adds residential real estate containing less than four units rented for periods of less than 30 consecutive days or advertised as short-term rentals to Class 4b property classification, effective for assessment year 2021 and thereafter.

Class 4b property maintains a classification rate of 1.25 percent of market value.

Expands Class 4b to include short-term rental properties previously classified under other categories, aligning taxation treatment with longer-term rental properties.