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SF2199 (Legislative Session 94 (2025-2026))

Valuation reductions permission on certain property with conservation restriction or easements

Related bill: HF632

AI Generated Summary

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.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 05, 2025SenateFloorActionIntroduction and first reading
March 05, 2025SenateFloorActionReferred toTaxes
March 19, 2025SenateFloorActionAuthors added
March 23, 2025SenateFloorActionAuthor added
March 23, 2025SenateFloorActionAuthor added

Citations

 
[
  {
    "analysis": {
      "added": [
        "A clause ensuring valuation is not reduced if property meets conservation easement requirements."
      ],
      "removed": [],
      "summary": "This bill revises property tax valuation rules for properties with conservation restrictions or easements under section 273.117.",
      "modified": [
        "Clarifications on the applicability of conservation restrictions in different types of counties."
      ]
    },
    "citation": "273.117"
  }
]

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