| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to taxation; property; modifying contents of proposed property tax notice |
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| 3 | 3 | | 1.3 and tax statements to remove fiscal disparities adjustment amounts; repealing |
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| 4 | 4 | | 1.4 Minnesota Statutes 2024, sections 275.065, subdivision 3c; 276.04, subdivision |
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| 5 | 5 | | 1.5 2a. |
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| 6 | 6 | | 1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 7 | 7 | | 1.7 Section 1. REPEALER. |
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| 8 | 8 | | 1.8 Minnesota Statutes 2024, sections 275.065, subdivision 3c; and 276.04, subdivision 2a, |
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| 9 | 9 | | 1.9are repealed. |
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| 10 | 10 | | 1.10 EFFECTIVE DATE.This section is effective beginning with property taxes payable |
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| 11 | 11 | | 1.11in 2026. |
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| 12 | 12 | | 1Section 1. |
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| 13 | 13 | | 25-01751 as introduced01/06/25 REVISOR MS/HL |
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| 14 | 14 | | SENATE |
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| 15 | 15 | | STATE OF MINNESOTA |
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| 16 | 16 | | S.F. No. 561NINETY-FOURTH SESSION |
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| 17 | 17 | | (SENATE AUTHORS: HAUSCHILD) |
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| 18 | 18 | | OFFICIAL STATUSD-PGDATE |
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| 19 | 19 | | Introduction and first reading01/23/2025 |
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| 20 | 20 | | Referred to Taxes 275.065 PROPOSED PROPERTY TAXES; NOTICE. |
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| 21 | 21 | | Subd. 3c.Notice of proposed taxes; property subject to chapter 276A.In the case of property |
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| 22 | 22 | | subject to the areawide tax under section 276A.06, subdivision 7, for both the current year taxes |
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| 23 | 23 | | and the proposed tax amounts, the net tax capacity portion of the taxes shown for each taxing |
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| 24 | 24 | | jurisdiction must be based on the property's total net tax capacity multiplied by the jurisdiction's |
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| 25 | 25 | | actual or proposed net tax capacity tax rate. In addition to the tax amounts shown for each jurisdiction, |
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| 26 | 26 | | the statement must include a line showing the "fiscal disparities adjustment" equal to the total gross |
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| 27 | 27 | | tax payable minus the sum of the tax amounts shown for the individual taxing jurisdictions. The |
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| 28 | 28 | | fiscal disparities adjustment may be a negative number. If the fiscal disparities adjustment for either |
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| 29 | 29 | | the current year taxes or the proposed tax amount is a negative number, the percentage change must |
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| 30 | 30 | | not be shown. In all other respects the statement must fulfill the requirements of subdivision 3. |
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| 31 | 31 | | 276.04 NOTICE OF RATES; PROPERTY TAX STATEMENTS. |
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| 32 | 32 | | Subd. 2a.Contents of tax statements; property subject to chapter 276A.In the case of |
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| 33 | 33 | | property subject to the areawide tax under section 276A.06, subdivision 7, for both the current year |
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| 34 | 34 | | taxes and the previous year tax amounts, the net tax capacity portion of the tax shown for each |
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| 35 | 35 | | taxing jurisdiction must be based on the property's total net tax capacity multiplied by the |
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| 36 | 36 | | jurisdiction's net tax capacity tax rate. In addition to the tax amounts shown for each jurisdiction, |
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| 37 | 37 | | the statement must include a line showing the "fiscal disparities adjustment" equal to the total gross |
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| 38 | 38 | | tax payable minus the sum of the tax amounts shown for the individual taxing jurisdictions for each |
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| 39 | 39 | | year. The fiscal disparities adjustment may be a negative number. In all other respects the statement |
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| 40 | 40 | | must fulfill the requirements of subdivision 2. |
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| 41 | 41 | | 1R |
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| 42 | 42 | | APPENDIX |
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| 43 | 43 | | Repealed Minnesota Statutes: 25-01751 |
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