Bill > HF632

This bill modifies Minnesota's property tax valuation rules for land with conservation restrictions or easements. Currently, property with a recorded conservation restriction or easement cannot automatically receive a tax valuation reduction. The bill introduces several nuanced exceptions to this rule: it excludes conservation restrictions related to riparian buffers near water bodies, easements in counties with existing farmland protection programs, conservation restrictions in metropolitan counties, and conservation restrictions in nonmetropolitan counties where local assessors have approved considering such restrictions' impact on property value. The bill also maintains an existing exemption for conservation easements entered before May 23, 2013. The changes will become effective for property tax assessment years starting in 2026, giving local governments and property owners time to understand and adapt to the new rules. The modifications appear designed to provide more flexibility in how conservation-related property restrictions are evaluated for tax purposes, potentially offering more opportunities for property owners to receive tax considerations for land preservation efforts.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0632&ssn=0&y=2025