MN HF4778

Reduces the state general levy for commercial-industrial property from $716,990,000 to $616,990,000 for taxes payable in 2023 and thereafter.

Maintains the state general levy for seasonal-recreational property at $41,690,000 for taxes payable in 2020 and thereafter.

Authorizes the commissioner to adjust preliminary or final tax rates to account for errors and tax base changes from the two preceding years, with adjustments allowed for erroneous local taxable value reports, commissioner calculation errors, and reported changes in taxable value.

Requires adjustments to total at least $100,000 in tax difference before the commissioner is obligated to make them, though adjustments below this threshold are discretionary.

Effective beginning with taxes payable in 2023.