Bill > HF3045

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 specific tax applied to commercial and industrial properties, as well as seasonal residential recreational properties. The bill modifies Minnesota Statutes to lower the levy amount for commercial-industrial property, while keeping the seasonal-recreational property levy at $41,690,000. The legislation maintains existing provisions that allow the commissioner of revenue to make adjustments to tax rates for errors or tax base changes, such as incorrect taxable value reports or calculation mistakes. These adjustments can be made as long as the total difference in tax levied for the year would be significant (over $100,000). The bill aims to provide tax relief for commercial and industrial property owners by reducing the state's general levy, which will lower their property tax burden.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF3045&ssn=0&y=2025