MN SF5523

Reduces the classification rate for Class I manufactured home parks from 1.0 percent to 0.75 percent of market value.

Modifies the classification rate structure for manufactured home parks under section 273.124, subdivision 3a based on cooperative ownership percentage: 0.75 percent if more than 50 percent of lots are occupied by cooperative shareholders, and 1.0 percent if 50 percent or less are so occupied.

Maintains the classification rate for standard manufactured home parks at the Class 4b rate of 1.25 percent.

Changes are effective beginning with assessment year 2025.