MN HF1721

Removes the 10 percent minimum interest rate floor on delinquent property taxes, penalties, and costs, allowing rates to be determined solely by section 270C.40, subdivision 5, with a maximum of 14 percent per annum.

Doubles the interest rate for property owners with delinquent taxes exceeding 25 percent of the prior year's school district levy.

Allows county boards to establish interest rates lower than the standard rate by resolution for both delinquent property taxes and tax-forfeited land repurchase contracts.

Applies the same interest rate methodology to unpaid balances on county board-approved repurchase contracts for tax-forfeited land.

Effective for property taxes, penalties, and costs determined delinquent on or after January 1, 2024.