MN SF1715

Removes the 10 percent minimum interest rate floor for delinquent property taxes, penalties, and costs, making the rate determined by section 270C.40, subdivision 5, applicable without a minimum threshold.

Maintains a maximum interest rate of 14 percent per annum when the section 270C.40, subdivision 5 rate exceeds 14 percent.

Imposes double the standard interest rate on delinquent property taxes when a property owner's delinquent taxes exceed 25 percent of the prior year's school district levy.

Allows county boards to establish interest rates lower than the rates determined under the standard formula by resolution.

Applies to property taxes, penalties, and costs determined delinquent on or after January 1, 2024, and aligns repurchase contract interest rates under section 282.261 with these modifications effective the same date.