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MN HF2054

Bill

Official Source

Status

Introduced

2/20/2023

Primary Sponsor

Joshua Heintzeman

Click for details

Origin

House of Representatives

93rd Legislature 2023-2024

AI Summary

  • Increases the tier I market value threshold for Class 1c homestead resort properties from $600,000 to $1,000,000
  • Increases the tier II market value threshold for Class 1c homestead resort properties from $1,700,000 to $2,500,000
  • Maintains classification rates for Class 1c tiers at 0.50 percent (tier I), 1.0 percent (tier II), and 1.25 percent (tier III)
  • Applies changes to homestead resort properties that abut public water or state trails and are devoted to temporary and seasonal residential occupancy for recreational purposes
  • Effective beginning with assessment year 2024

Legislative Description

Property tax provisions modified, and homestead resort properties tier limits modified.

Last Action

Referred by Chair to Property Tax Division

3/2/2023

Committee Referrals

Property Tax3/2/2023
Taxes2/20/2023

Full Bill Text

No bill text available