SF2199

This bill proposes amendments to Minnesota Statutes 2024, section 273.117, regarding property tax valuation for real estate with conservation restrictions or easements. Under the amendment:

1. The assessor must not reduce the value of a property if:

   • It has a conservation restriction or easement officially recorded.
   • The property is being used in accordance with the terms of that restriction or easement.

2. However, this rule does not apply to:

   • Conservation restrictions or easements for riparian buffers along lakes, rivers, and streams used for water quality or quantity control.
   • Easements in counties that have adopted farmland and natural area protection programs through referendum since 1999.
   • Conservation restrictions or easements in metropolitan counties.
   • Conservation restrictions or easements in nonmetropolitan counties where the county has authorized assessors by resolution to account for conservation restrictions in property valuation.
   • Conservation restrictions or easements established before May 23, 2013.

The bill seeks to clarify and restrict the conditions under which conservation easements can affect property tax valuations.