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HF3045 (Legislative Session 94 (2025-2026))

Property tax; state general levy for commercial-industrial property reduced.

Related bill: SF3218

AI Generated Summary

Purpose of the Bill

The bill aims to reduce the state general levy on commercial-industrial property in Minnesota. This reduction is intended to provide tax relief to businesses operating within these property classifications.

Main Provisions

  • Reduction in State General Levy: The bill proposes a decrease in the state general property tax levy specifically for commercial-industrial properties. The levy amount will be reduced from $716,990,000 to $684,990,000 starting with taxes payable in 2023 and continuing thereafter.
  • Seasonal Residential Recreational Property: The state general levy for seasonal residential recreational property remains at $41,690,000 for taxes payable in 2020 and beyond, indicating no change for this category.

Significant Changes to Existing Law

  • The reduction in the levy amount represents a change from previous tax assessments, providing potential financial relief for property owners under the commercial-industrial category.
  • The bill clarifies that these levies are not treated as local tax rates and are not considered levies of governmental units under specific state chapters, maintaining the status quo for tax classification.

Relevant Terms

  • State general levy
  • Commercial-industrial property
  • Tax reduction
  • Property tax relief
  • Seasonal residential recreational property

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
April 01, 2025HouseFloorActionIntroduction and first reading, referred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill modifies the state general levy amounts for commercial and industrial property under section 275.025, subdivision 1.",
      "modified": [
        "Reduces the state general levy for commercial and industrial property payable in 2026 and thereafter."
      ]
    },
    "citation": "275.025",
    "subdivision": "subdivision 1"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill clarifies the treatment of the state general property tax under section 469.177.",
      "modified": [
        "Specifies that the tax is not treated as a local tax rate under section 469.177."
      ]
    },
    "citation": "469.177",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill involves reporting to the commissioner under section 270C.85, subdivision 2, clause 4.",
      "modified": [
        "Includes changes in taxable value for reporting purposes."
      ]
    },
    "citation": "270C.85",
    "subdivision": "subdivision 2"
  }
]

Sponsors