MN HF4597

Establishes an agricultural riparian buffer credit for Class 2a and 2b agricultural property containing a riparian buffer certified by local soil and water conservation districts, effective for taxes payable in 2023.

Credit amount equals the net tax capacity based property tax attributable to the portion of property subject to riparian buffer requirements under Minnesota Statutes section 103F.48.

County auditors determine tax reductions and certify amounts to the Commissioner of Revenue; reimbursement to local taxing jurisdictions (except school districts) occurs in two equal installments on October 31 and December 26, with reimbursement to school districts handled through the Department of Education.

Appropriates an amount sufficient from the general fund to the Commissioner of Revenue for non-school district reimbursements and to the Commissioner of Education for school district reimbursements.

Amends property tax credit computation order to include the new agricultural riparian buffer credit as item (9) and updates property tax notice and statement requirements to separately identify the credit for taxpayers beginning with taxes payable in 2023.