Bill Text: MN HF3086 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Agricultural market value homestead property tax credit permanently increased, supplemental credit payments for taxes payable in 2014 provided, and money appropriated.
Spectrum: Moderate Partisan Bill (Democrat 7-2)
Status: (Introduced - Dead) 2014-03-27 - Author added Kiel [HF3086 Detail]
Download: Minnesota-2013-HF3086-Introduced.html
1.2relating to taxation; property; permanently increasing the agricultural market
1.3value homestead credit; providing for supplemental credit payments for taxes
1.4payable in 2014; appropriating money;amending Minnesota Statutes 2012,
1.5section 273.1384, subdivision 2.
1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.7 Section 1. Minnesota Statutes 2012, section 273.1384, subdivision 2, is amended to read:
1.8 Subd. 2. Agricultural homestead market value credit. Property classified as
1.9agricultural homestead under section273.13, subdivision 23 , paragraph (a), is eligible for
1.10an agricultural credit. The credit is computed using the property's agricultural credit market
1.11value, defined for this purpose as the property's market value excluding the market value of
1.12the house, garage, and immediately surrounding one acre of land. The credit is equal to 0.3
1.13percent of the first $115,000 of the property's agricultural credit market valueminus .05 plus
1.140.1 percent of the property's agricultural credit market value in excess of $115,000, subject
1.15to a maximumreduction credit of $115 $500. In the case of property that is classified
1.16as part homestead and part nonhomestead solely because not all the owners occupy or
1.17farm the property, not all the owners have qualifying relatives occupying or farming the
1.18property, or solely because not all the spouses of owners occupy the property, the credit
1.19must be initially computed as if that nonhomestead agricultural land was also classified as
1.20agricultural homestead and then prorated to the owner-occupant's percentage of ownership.
1.21EFFECTIVE DATE.This section is effective beginning with taxes payable in 2014.
1.22 Sec. 2. SUPPLEMENTAL CREDIT FOR TAXES PAYABLE IN 2014 ONLY.
2.1 Subdivision 1. Certification of supplemental credit amount. By September 15,
2.22014, the county auditor must notify each eligible property owner of the amount by
2.3which the credit determined under section 1 exceeds the credit amount certified on the
2.4homestead's property tax statement or statements for property taxes payable in 2014. The
2.5county auditor must also notify the commissioner of revenue in a manner prescribed by
2.6the commissioner. The notification to the commissioner must indicate whether there
2.7are any unpaid taxes upon the property.
2.8 Subd. 2. Payment of supplemental credit. The commissioner must pay
2.9supplemental credit amounts to each qualifying taxpayer by October 15, 2014, provided
2.10there are no unpaid taxes on the property.
2.11 Subd. 3. Property tax statements for taxes payable in 2015. In preparing
2.12proposed and final property tax statements for taxes payable in 2015, the county auditor
2.13shall include the supplemental credit amounts determined under this section in displaying
2.14property taxes payable in 2014.
2.15 Subd. 4. Costs of administration. $40,000 in fiscal year 2015 is appropriated from
2.16the general fund to the commissioner of revenue to be used to compensate counties for
2.17expenses incurred in complying with this section
2.18EFFECTIVE DATE.This section is effective the day following final enactment.
1.3value homestead credit; providing for supplemental credit payments for taxes
1.4payable in 2014; appropriating money;amending Minnesota Statutes 2012,
1.5section 273.1384, subdivision 2.
1.6BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.7 Section 1. Minnesota Statutes 2012, section 273.1384, subdivision 2, is amended to read:
1.8 Subd. 2. Agricultural homestead market value credit. Property classified as
1.9agricultural homestead under section
1.10an agricultural credit. The credit is computed using the property's agricultural credit market
1.11value, defined for this purpose as the property's market value excluding the market value of
1.12the house, garage, and immediately surrounding one acre of land. The credit is equal to 0.3
1.13percent of the first $115,000 of the property's agricultural credit market value
1.140.1 percent of the property's agricultural credit market value in excess of $115,000, subject
1.15to a maximum
1.16as part homestead and part nonhomestead solely because not all the owners occupy or
1.17farm the property, not all the owners have qualifying relatives occupying or farming the
1.18property, or solely because not all the spouses of owners occupy the property, the credit
1.19must be initially computed as if that nonhomestead agricultural land was also classified as
1.20agricultural homestead and then prorated to the owner-occupant's percentage of ownership.
1.21EFFECTIVE DATE.This section is effective beginning with taxes payable in 2014.
1.22 Sec. 2. SUPPLEMENTAL CREDIT FOR TAXES PAYABLE IN 2014 ONLY.
2.1 Subdivision 1. Certification of supplemental credit amount. By September 15,
2.22014, the county auditor must notify each eligible property owner of the amount by
2.3which the credit determined under section 1 exceeds the credit amount certified on the
2.4homestead's property tax statement or statements for property taxes payable in 2014. The
2.5county auditor must also notify the commissioner of revenue in a manner prescribed by
2.6the commissioner. The notification to the commissioner must indicate whether there
2.7are any unpaid taxes upon the property.
2.8 Subd. 2. Payment of supplemental credit. The commissioner must pay
2.9supplemental credit amounts to each qualifying taxpayer by October 15, 2014, provided
2.10there are no unpaid taxes on the property.
2.11 Subd. 3. Property tax statements for taxes payable in 2015. In preparing
2.12proposed and final property tax statements for taxes payable in 2015, the county auditor
2.13shall include the supplemental credit amounts determined under this section in displaying
2.14property taxes payable in 2014.
2.15 Subd. 4. Costs of administration. $40,000 in fiscal year 2015 is appropriated from
2.16the general fund to the commissioner of revenue to be used to compensate counties for
2.17expenses incurred in complying with this section
2.18EFFECTIVE DATE.This section is effective the day following final enactment.
