The bill increases the simplicity and accountability of Minnesota's property tax system and makes the property tax a truly local tax. Voter-approved excess levies will remain locally funded. Classification rate reductions. Double-digit property tax decreases for all classes of property. Businesses, utilities and commercial resorts are included in the new statewide tax and are also included in operating referendum.
Cabins pay the statewide tax and are off the operating referendum.
Farms and forestland are exempt from both the statewide levy and local operating referendum. Future growth in the statewide tax will be dedicated exclusively to education. Increasing LGA for cities. Equalization and relief for other operating and debt service levies increased. Newly eligible Minnesotans include those with public pension income and tribal members.