Bill > HF443

This bill modifies the property tax exemption for certain airport properties by adjusting the existing tax rules for properties owned by airports and used by private entities. Specifically, the bill changes how property tax exemptions apply to airport properties in cities with populations between 50,000 and 150,000 residents. For such airports not owned by the Metropolitan Airports Commission, the bill introduces a partial tax reduction where the net tax capacity of eligible airport property (including hangars used for aircraft storage, repair, or manufacture, and areas like check-in counters and boarding areas) will be reduced by 50% for property taxes payable from 2026 through 2037. The legislation aims to provide tax relief for airport properties while maintaining some taxation, with the exemption specifically targeting properties used for aviation-related purposes in mid-sized cities. The bill ensures that properties used for profit by private entities at these airports will still be subject to some level of taxation, but at a reduced rate compared to current regulations. The changes will take effect beginning with property taxes payable in 2026.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0443&ssn=0&y=2025