Subdivision 1. [Repealed, 1Sp2011 c 7 art 6 s 27]
Subd. 2. Agricultural homestead market value credit. Property classified as agricultural homestead under section 273.13, subdivision 23, paragraph (a), is eligible for an agricultural credit. The credit is computed using the property's agricultural credit market value, defined for this purpose as the property's market value excluding the market value of the house, garage, and immediately surrounding one acre of land. The credit is equal to 0.3 percent of the first $115,000 of the property's agricultural credit market value plus 0.1 percent of the property's agricultural credit market value in excess of $115,000, subject to a maximum credit of $490 for a full agricultural homestead. In the case of property that is classified as part homestead and part nonhomestead solely because not all the owners occupy or farm the property, not all the owners have qualifying relatives occupying or farming the property, or solely because not all the spouses of owners occupy the property, the credit is computed on the amount of agricultural credit market value corresponding to the percentage of homestead, and the maximum credit equals $490 multiplied by the percentage of homestead.
Subd. 3. Credit reimbursements. The county auditor shall determine the tax reductions allowed under subdivision 2 within the county for each taxes payable year and shall certify that amount to the commissioner of revenue under section 270C.85, subdivision 2, clause (4). Any prior year adjustments shall also be certified. The commissioner shall review the certifications for accuracy, and may make such changes as are deemed necessary, or return the certification to the county auditor for correction. The credit under this section must be used to proportionately reduce the net tax capacity-based property tax payable to each local taxing jurisdiction as provided in section 273.1393.
Subd. 4. Payment. (a) The commissioner of revenue shall reimburse each local taxing jurisdiction, other than school districts, for the tax reductions granted under subdivision 2 in two equal installments on October 31 and December 26 of the taxes payable year for which the reductions are granted, including in each payment the prior year adjustments certified on the abstracts for that taxes payable year. The reimbursements related to tax increments shall be issued in one installment each year on December 26.
(b) The commissioner of revenue shall certify the total of the tax reductions granted under subdivision 2 for each taxes payable year within each school district to the commissioner of the Department of Education and the commissioner of education shall pay the reimbursement amounts to each school district as provided in section 273.1392.
Subd. 5. Appropriation. An amount sufficient to make the payments required by this section to taxing jurisdictions other than school districts is annually appropriated from the general fund to the commissioner of revenue. An amount sufficient to make the payments required by this section for school districts is annually appropriated from the general fund to the commissioner of education.
Subd. 6. [Repealed, 1Sp2011 c 7 art 6 s 27]
1Sp2001 c 5 art 3 s 37; 2002 c 377 art 4 s 18,19; 2003 c 130 s 12; 2005 c 151 art 4 s 2; 2006 c 259 art 5 s 3,4; 2008 c 366 art 6 s 29; 2010 c 215 art 13 s 2; 1Sp2010 c 1 art 13 s 1; 1Sp2011 c 7 art 6 s 4,5; 2014 c 308 art 1 s 2; 1Sp2017 c 1 art 4 s 1; 1Sp2019 c 6 art 4 s 17; art 18 s 11
Structure Minnesota Statutes
Chapters 272 - 289 — Property Taxes
Chapter 273 — Taxes; Listing, Assessment
Section 273.01 — Listing And Assessment, Time.
Section 273.02 — Omitted Property.
Section 273.03 — Real Estate; Assessment; Method.
Section 273.032 — Market Value Definition.
Section 273.05 — Assessors; Appointment, Term, And Oath.
Section 273.051 — City Assessors, Term.
Section 273.052 — Appointment; Application.
Section 273.053 — Assessment; Expenses.
Section 273.0535 — County Or Local Assessing District To Assume Cost Of Training.
Section 273.054 — Duties And Powers Of Assessor.
Section 273.055 — Resolution To Appoint Assessor; Termination Of Local Assessor's Office.
Section 273.056 — Revocation Of County Assessor's Election; Local Assessors.
Section 273.06 — Deputy Assessors.
Section 273.061 — Establishment Of Office For Each County.
Section 273.062 — Valuation And Assessment Of Personal Property.
Section 273.063 — Application; Limitations.
Section 273.064 — Examination Of Local Assessor's Work; Completion Of Assessments.
Section 273.0645 — Commissioner Review Of Assessment Practices.
Section 273.065 — Delivery Of Assessment Appraisal Records; Extensions.
Section 273.072 — Agreements For Joint Assessment.
Section 273.0755 — Training And Education Of Property Tax Personnel.
Section 273.08 — Assessor's Duties.
Section 273.10 — School Districts.
Section 273.105 — Internal Revenue Code.
Section 273.11 — Valuation Of Property.
Section 273.1101 — Valuation, Terminology In Statutes, Laws Or Charters.
Section 273.1102 — Rate Of Tax, Terminology Of Laws Or Charters.
Section 273.1104 — Iron Ore, Value.
Section 273.1108 — Annual Report On Agricultural Valuation And Classification.
Section 273.111 — Agricultural Property Tax.
Section 273.1115 — Aggregate Resource Preservation Property Tax Law.
Section 273.112 — Private Outdoor Recreational, Open Space And Park Land Tax.
Section 273.113 — Tax Credit For Property In Proposed Bovine Tuberculosis Modified Accredited Zone.
Section 273.114 — Rural Preserve Property Tax Program.
Section 273.117 — Conservation Property Tax Valuation.
Section 273.118 — Tax Paid In Recognition Of Congressional Medal Of Honor.
Section 273.119 — Conservation Tax Credit.
Section 273.12 — Assessment Of Real Property.
Section 273.121 — Valuation Of Real Property, Notice.
Section 273.1231 — Tax Relief For Destroyed Property; Definitions.
Section 273.1232 — Tax Relief For Destroyed Property; General Provisions.
Section 273.1233 — Tax Relief For Destroyed Property; Local Option Disaster Abatement.
Section 273.1234 — Tax Relief For Destroyed Property; Homestead And Disaster Credits.
Section 273.1235 — Tax Relief For Destroyed Property; Local Option Disaster Credits.
Section 273.124 — Homestead Determination; Special Rules.
Section 273.1245 — Classification Of Data.
Section 273.125 — Assessment Of Manufactured Homes.
Section 273.128 — Certification Of Low-income Rental Property.
Section 273.13 — Classification Of Property.
Section 273.1315 — Certification Of Class 1b Property.
Section 273.1319 — Single Family Housing; Noncompliance; Minneapolis And St. Paul.
Section 273.1321 — Vacant Commercial Industrial Properties.
Section 273.1325 — Adjustment Of Net Tax Capacity.
Section 273.134 — Taconite And Iron Ore Areas; Tax Relief Area; Definitions.
Section 273.1341 — Taconite Assistance Area.
Section 273.1342 — Electric Generating Plants In Taconite Tax Relief Areas.
Section 273.135 — Homestead Property Tax Relief.
Section 273.136 — Taconite Property Tax Relief Account; Replacement Of Revenue.
Section 273.1384 — Agricultural Homestead Market Value Credit.
Section 273.1387 — School Building Bond Agricultural Credit.
Section 273.1391 — Supplementary Homestead Property Tax Relief.
Section 273.1392 — Payment; School Districts.
Section 273.1393 — Computation Of Net Property Taxes.
Section 273.1398 — Disparity Reduction Aid And Credit.
Section 273.16 — Determination Of Classification.
Section 273.165 — Taxation Of Separate Mineral Interests And Unmined Iron Ore.
Section 273.1651 — Taxation And Forfeiture Of Stockpiled Metallic Minerals Material.
Section 273.17 — Assessment Of Real Property.
Section 273.18 — Listing, Valuation, And Assessment Of Exempt Property By County Auditors.
Section 273.19 — Lessees And Equitable Owners.
Section 273.20 — Assessor May Enter Dwellings, Buildings, Or Structures.
Section 273.21 — Neglect By Auditor Or Assessor; Penalty.
Section 273.25 — Lists To Be Verified.
Section 273.26 — Personal Property; Where Listed.
Section 273.32 — Elevators And Warehouses On Railroad.
Section 273.33 — Express, Stage And Transportation Companies; Pipelines.
Section 273.35 — Gas And Water Companies.
Section 273.36 — Electric Light And Power Companies.
Section 273.37 — Companies Supplying Electric Power.
Section 273.371 — Reports Of Utility Companies.
Section 273.3711 — Recommended And Ordered Values.
Section 273.372 — Proceedings And Appeals; Utility Or Railroad Valuations.
Section 273.38 — Percentage Of Assessments; Exceptions.
Section 273.40 — Annual Tax On Cooperative Associations.
Section 273.41 — Amount Of Tax; Distribution.
Section 273.42 — Rate Of Tax; Entry And Certification; Credit On Payment; Property Tax Credit.
Section 273.425 — Adjustment Of Levy.
Section 273.43 — Personal Property Of Certain Companies, Where Listed.
Section 273.46 — Assignees And Receivers.
Section 273.47 — Property Moved Between January And March.
Section 273.48 — Where Listed In Case Of Doubt.
Section 273.50 — Lists May Be Destroyed.
Section 273.51 — [Impliedly repealed, see Bemis Bro Bag Co v Wallace 197 Minn 216, 266 NW 690]
Section 273.65 — Failure To List; Examination Under Oath; Duties Of Assessor.
Section 273.66 — Owner Absent Or Sick.
Section 273.67 — Procedure When Owner Does Not List Or Is Not Sworn.