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MN SF4507
Bill
Status
3/4/2024
Primary Sponsor
Andrew Mathews
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AI Summary
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Reduces the state general levy for commercial-industrial property from $716,990,000 to $620,530,000 for taxes payable in 2024 and thereafter.
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Excludes utility real and personal property from the commercial-industrial tax capacity calculation used to determine the state general levy.
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Excludes electric generation attached machinery under class 3 property from commercial-industrial tax capacity.
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Maintains the state general levy for seasonal-recreational property at $41,690,000 for taxes payable in 2020 and thereafter.
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Effective for property taxes payable in 2024 and thereafter, and for assessment year 2023 and thereafter.
Legislative Description
Utility property exclusion from state general tax and reducing the state general levy amount provisions
Last Action
Referred to Taxes
3/4/2024