Bill > SF3218

This bill reduces the state general levy for commercial-industrial property in Minnesota from $716,990,000 to $684,990,000, starting with property taxes payable in 2026. The state general levy is a tax specifically levied against commercial-industrial and seasonal residential recreational properties, which is different from local property taxes. The bill amends the existing tax statute to lower the total amount of the state general levy for commercial-industrial properties, potentially providing tax relief for businesses. The commissioner of the state is still authorized to make adjustments to the levy rate to account for errors in tax base reporting or calculation, with a threshold of $100,000 for making such corrections. The reduction in the state general levy could help make Minnesota more competitive for businesses by slightly lowering their property tax burden, though the overall impact would depend on other factors in the state's tax structure.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF3218&ssn=0&y=2025