My House is Worth What? Minnesota Property Tax
Why doesn’t the assessor’s value reflect the sale price of my property? 1. There is a lag between the time of the assessment and when the sale takes place. An appraisal is an estimate of property value...
View ArticleState General Levy: Minnesota Property Tax
Background During the 2001 legislative session, Minnesota enacted the first state property levy since taxes payable in 1967. The tax is only on certain properties and was enacted as part of a property...
View ArticleSenior Citizen Property Tax Deferral: Minnesota Property Tax
The Senior Citizen Property Tax Deferral Program was established to help senior citizens who were having difficulty paying their property taxes. This deferral program has the following two primary...
View ArticleSpecial Agricultural Homestead: Minnesota Property Tax
What is a Special Agricultural Homestead? The Special Agricultural Homestead provision extends homestead status to property owners who do not live on their farm but actively farm their land or who have...
View ArticleSpecial Agricultural Homestead Property Owned or Leased by a Qualified...
What is a Special Agricultural Homestead? The Special Agricultural Homestead provision extends homestead status to farms owned or leased by a qualified entity and farmed by a member of the entity who...
View ArticleSpecial Agricultural Homestead Property Held Under a Trust: Minnesota...
What is a Special Agricultural Homestead? The Special Agricultural Homestead provision extends homestead status to property that is owned under a trust and farmed by the grantor, the spouse of the...
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Green Acres (Minnesota Agricultural Property Tax Law): Minnesota Property Tax
The Green Acres Program provides property tax relief for owners of agricultural property in areas where the market value of land is being affected by development pressure, sales of recreational land,...
View ArticleRural Preserve Property Tax Program: Minnesota Property Tax
The Rural Preserve Program provides property tax relief for qualifying owners of rural vacant land in areas where the market value of the land is being affected by development pressure, sales of...
View ArticleClass C2 Managed Forest Land: Minnesota Property Tax
This property classification, enacted in 2008, provides a reduced class rate of 0.65 percent to forested property that is subject to a current forest management (stewardship) plan and that meets other...
View ArticleSustainable Forest Incentive Act: Minnesota Property Tax
What is the Program? Legislation passed in 2001—the Sustainable Forest Incentive Act (SFIA)—allows annual payments to be made to enrolled owners of forested land as an incentive to practice long-term...
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