Bill > HF1088

This bill extends a property tax exemption for specific land owned by the Port Authority of Bloomington, Minnesota. The exemption, which was originally in place for taxes payable from 2017 through 2025, will now be continued for taxes payable from 2026 through 2031, provided that the property meets the existing requirements under Minnesota Statutes, section 272.02, subdivision 39. The bill requires that an initial application for this continued exemption must be filed with the assessor by June 30, 2025. The legislation specifically pertains to property acquired by the Port Authority in May 2016, and it will become effective after the Bloomington city governing body and its chief clerical officer complete certain legal compliance procedures. This extension is intended to support economic development by maintaining a tax exemption for a specific parcel of land held by the local port authority.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1088&ssn=0&y=2025