Source: https://www.revisor.mn.gov/statutes/cite/275.08
Timestamp: 2019-02-16 05:58:18
Document Index: 424281262

Matched Legal Cases: ['art 4', 'art 9', 'art 9', 'art 3', 'art 3', 'art 11', 'art 8', 'art 5', 'art 13', 'art 2', 'art 9', 'art 1', 'art 11', 'art 3', 'art 11', 'art 9', 'art 10', 'art 4']

Section 275.08
275.079 275.081
2017 Subd. 1b Amended 2017 c 1 art 4 s 7
2014 Subd. 1a Amended 2014 c 308 art 9 s 34
2014 Subd. 1d Amended 2014 c 308 art 9 s 35
2001 Subd. 1e Repealed 2001 c 5 art 3 s 96
1997 Subd. 1e New 1997 c 251 s 19
1996 Subd. 1b Amended 1996 c 471 art 3 s 20
1995 Subd. 1b Amended 1995 c 264 art 11 s 7
The county auditor shall compute the net tax capacity for each parcel according to the classification rates specified in section 273.13. The net tax capacity will be the appropriate classification rate multiplied by the parcel's market value.
(a) The amounts certified to be levied against net tax capacity under section 275.07 by an individual local government unit shall be divided by the total net tax capacity of all taxable properties within the local government unit's taxing jurisdiction. The resulting ratio, the local government's local tax rate, multiplied by each property's net tax capacity shall be each property's net tax capacity tax for that local government unit before reduction by any credits.
(b) The auditor must also determine the school debt tax rate for each school district equal to (1) the school debt service levy certified under section 275.07, subdivision 2, divided by (2) the total net tax capacity of all taxable property within the district.
(c) Any amount certified to the county auditor to be levied against market value shall be divided by the total referendum market value of all taxable properties within the taxing district. The resulting ratio, the taxing district's new referendum tax rate, multiplied by each property's referendum market value shall be each property's new referendum tax before reduction by any credits. For the purposes of this subdivision, "referendum market value" means the market value as defined in section 126C.01, subdivision 3.
If, after computing each local government's adjusted local tax rate within a unique taxing jurisdiction pursuant to subdivision 1c, the auditor finds that the total adjusted local tax rate of all local governments combined is 90 percent of net tax capacity, the auditor shall increase each local government's adjusted local tax rate proportionately so the total adjusted local tax rate of all local governments combined equals 90 percent. The total amount of the increase in tax resulting from the increased local tax rates must not exceed the amount of disparity aid allocated to the unique taxing district under section 273.1398. The auditor shall certify to the Department of Revenue the difference between the disparity aid originally allocated under section 273.1398, subdivision 3, and the amount necessary to reduce the total adjusted local tax rate of all local governments combined to 90 percent. Each local government's disparity reduction aid payment under section 273.1398, subdivision 6, must be reduced accordingly.
(2059) RL s 870; 1Sp1981 c 1 art 8 s 10; 1986 c 444; 1988 c 719 art 5 s 33-35,84; 1989 c 1 s 2; 1989 c 329 art 13 s 20; 1Sp1989 c 1 art 2 s 11; art 9 s 41,42; 1991 c 291 art 1 s 27; 1995 c 264 art 11 s 7; 1996 c 471 art 3 s 20; 1997 c 251 s 19; 1998 c 397 art 11 s 3; 2014 c 308 art 9 s 34,35; art 10 s 12; 1Sp2017 c 1 art 4 s 7