MN SF2076

Increases the Tier I market value limit for Class 1c homestead resort properties from $600,000 to $1,500,000, taxed at 0.50 percent

Increases the Tier II market value limit from $1,700,000 to $3,000,000, taxed at 1.0 percent

Market value exceeding Tier II remains classified as Tier III at 1.25 percent

Class 1c properties are seasonal resorts on public water or state trails with owner homesteads, operating commercially no more than 250 days per year with at least three rental units

Effective beginning with assessment year 2026