MN HF3678

Modifies property tax exemption for airport property used by private entities, adding language to allow hangars for storage, repair, or manufacture of aircraft in addition to storage alone.

Exempts airport property leased to fixed base operators and used for aviation goods, services, or facilities from taxation, except at airports operated by the Metropolitan Airports Commission or cities over 150,000 population.

Creates a 50 percent net tax capacity reduction for cities between 50,001 and 150,000 population for airport hangar property and passenger terminal areas.

Maintains exceptions for non-aviation-related businesses leasing hangars at airports, requiring these lessees to pay taxes on the property.

Applies existing tax payment and assessment rules for leased exempt property, with taxes assessed to lessees rather than property owners and collected as personal property taxes without creating a property lien.