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MN SF1897

Bill

Official Source

Status

Introduced

2/20/2023

Primary Sponsor

Jordan Rasmusson

Click for details

Origin

Senate

93rd Legislature 2023-2024

AI Summary

  • Increases tier I market value threshold for Class 1c homestead resort properties from $600,000 to $1,000,000, effective for assessment year 2024.
  • Increases tier II market value threshold for Class 1c homestead resort properties from $1,700,000 to $2,500,000, effective for assessment year 2024.
  • Maintains classification rates for Class 1c property at 0.50 percent for tier I, 1.0 percent for tier II, and 1.25 percent for tier III.
  • Applies to commercial use properties that abut public water or state trails and are devoted to temporary and seasonal residential occupancy for recreational purposes with an owner-occupied homestead portion.

Legislative Description

Homestead resort properties tier property tax tier limits modification

Last Action

Referred to Taxes

2/20/2023

Committee Referrals

Taxes2/20/2023

Full Bill Text

No bill text available