MN SF4262

Establishes a property tax task force to investigate ways to reduce property taxes on homestead properties and present legislative options for relief, including at least one option with minimal general fund impact

Task force membership includes 11 members: 2 state representatives, 2 state senators, the commissioner of revenue (or designee), and appointees from the Association of Minnesota Counties (2), League of Minnesota Cities (2), Minnesota Association of Townships (1), and Minnesota Association of Assessing Officers (1)

Required to analyze the effectiveness of the homestead market value exclusion, compare property tax classification rates across property types, and examine trends in property tax burdens from 2015 through 2025

Report with advisory recommendations due to legislative committees by February 1, 2027; task force expires upon submission of the report

Members serve without compensation; commissioner of revenue provides administrative support; meetings must be open to the public with at least seven days notice