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Bill > HF1755
MN HF1755
MN HF1755Property tax provisions modified, and increase in property value prohibited for homesteads owned by persons 65 years of age or older.
summary
Introduced
02/15/2023
02/15/2023
In Committee
02/15/2023
02/15/2023
Crossed Over
Passed
Dead
05/20/2024
05/20/2024
Introduced Session
93rd Legislature 2023-2024
Bill Summary
A bill for an act relating to taxation; property; prohibiting an increase in property value for homesteads owned by persons 65 years of age or older; amending Minnesota Statutes 2022, sections 273.11, subdivision 5, by adding a subdivision; 273.121, subdivision 1; 276.04, subdivision 2.
AI Summary
This bill prohibits an increase in property value for homesteads owned by persons 65 years of age or older, starting in assessment year 2023. It amends Minnesota Statutes to apply this limitation on property value increases to local and state boards of review and equalization. The bill also requires county assessors to inform the public about this valuation freeze and to include any resulting value reductions on the annual property tax notices sent to homeowners.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Authors added Knudsen and Bliss (on 02/16/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1755&ssn=0&y=2023 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF1755&version=0&session=ls93&session_year=2023&session_number=0&format=pdf |
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